In a statement, Booth said an agreement had been struck with majority shareholder Keith Haslam, only for Derry's backers to twice pull out.

Derry remains determined to complete a takeover and was due to meet with another potential partner on Thursday.

And he has urged Mansfield businessmen to support his bid.

In a statement, Derry said: "From my perspective, I am totally frustrated. Having concluded a deal, two parties have both withdrawn for different reasons.

"I would appeal to the people of Mansfield to not let the opportunity pass to achieve the desired goal - which is to put the club back in the hands of the people of Mansfield.

"I continue to make every effort and will talk to any genuine parties who are interested in a joint venture together with my consortium. But I would stress that it would have to be genuine.

"Now is the time for the people of Mansfield to get behind the club, given our precarious league position.

"I would like to stress the need for local people to stand up and be counted, as they did 15 years ago when the opportunity to take over the club was not taken up by local businessmen."