By early March 2021, the administrators were in advanced talks with a consortium, Phoenix 2021 Ltd, led by a Bahrain businessman, Talal Mubarak al-Hammad,[4] and a takeover was agreed on 15 March, subject to EFL approval and finalisation of paperwork. Under the proposed deal, Al-Hammad would become chairman,[5] and Mal Brannigan (previously involved with Dundalk and Dundee United) would be chief executive.[6]