The takeover at Whitehaven, which has been on and off for the last few days, finally appears as though it is not going to happen.

Only a few hours after the Whitehaven board had issued a statement, saying they would do all within their power to push the deal to a successful conclusion, the consortium involved called it off.

Stuart Harvey, whose Lancashire-based consortium had been trying to complete the deal, confirmed that they were no longer pursuing the option.

He completed the statement by saying: “There have been people within the club paranoid that we were looking to come in and merge the two west Cumbrian clubs, and rumours have been put on social media that this is the case.

“We would like to confirm that this was never the intention and, in fact, not one single person within the consortium has ever been to Derwent Park nor do any of them have any links to Mr Koukash.

“These were silly rumours started by people who didn’t want us at the club in the first place.”

The statement from the head of the consortium came after Whitehaven’s five-strong board had indicated that, whether the deal went ahead or not, they had to make decisions over the money raised by the £60,000 appeal.

Chairman Tommy Todd, on behalf of the board said: “We have reached the point where we have to start spending the money both pledged and paid.

"We feel that we have a moral obligation to offer those who have paid for season tickets a refund, their money back if they so desire.

“We have to be honest and state that, should a considerable number request their money back, we may not finish the season.

“Going forward, we still want to roll the appeal out and take it onwards to other fans and the business community.

"We are hopeful that in the coming weeks the appeal will thus raise much more than the £60K that was the set target for the consortium to step in.

“In getting to the end of the season, we will also be looking to see if there are other investors out there who might be interested but that would only be the case if the current negotiations fail.

“I do not think we need to stress the seriousness of the club’s situation and thus we hope people will see this request in a positive light and help us to continue.

“We need to spend funds at this month’s end which is for the club a crucial deadline. We are looking for people to respond by close of business on Thursday evening.”

Because of the consortium’s announcement after their press release, the board of directors will meet again today to discuss the developments.

The final word came from the consortium when Harvey said: “We had presented paperwork to the RFL and provided proof of funds, along with a financial plan for three years.

“I do not think we have told the club anything they didn’t know during these discussions and it is a sad day for all concerned.”