Shrewsbury Town has taken a significant step towards a takeover after agreeing terms with an American consortium. The club's prospective owners have submitted documents to the EFL and the new Independent Football Regulator, which will assess their suitability to own the club. Chairman Roland Wycherley remains in charge, funding the club's transfer activity, including the recent signing of Isaac Fletcher from Barrow. The takeover process is expected to take time, with Shrewsbury among the first clubs to submit to the new regulator. This development comes during a landmark year for the club, celebrating its 140th anniversary with special events and stadium improvements. The American consortium is different from the group that pulled out of talks last year due to external factors. If the takeover is completed, it would bring an end to Roland Wycherley's near 30-year ownership of the club. Wycherley has been actively seeking a buyer for several years, having purchased the club in 1996 when it was carrying debts of around £750,000. Under his tenure, the club has overseed significant milestones, including the move from Gay Meadow to the New Meadow in 2007. On the pitch, the club endured a difficult campaign last season but staged a remarkable turnaround under the management of Steve Cotterill, not Gavin Cowan as previously mentioned, to ensure safety. The latest developments represent a significant breakthrough for the club, which is looking to build on its recent progress. The club's fans will be eagerly awaiting news on the takeover, which could have a major impact on the club's future. With the American consortium's bid still being reviewed, it remains to be seen what the future holds for Shrewsbury Town. The club will continue to operate as normal until the takeover is completed, with Roland Wycherley remaining in charge. The takeover is not imminent, but this is the closest Shrewsbury have come to completing one.