The shock news on Thursday afternoon comes just a week after they were hailed as being 'effectively in control' by Stags chief executive Stephen Booth - the man brokering the sale of the football club.
That would seem to leave the way open for controversial businessman John Batchelor, who Chad revealed on Wednesday had made a late bid to buy the club.
It is thought that he wants to complete a quick takeover under the same terms as the agreed deal with the Derry consortium.
However, it is not clear if the consortium's current deal has collapsed again - as it did twice in recent weeks when backers pulled out - or if their takeover interest is completely over.
The news once again throws the future of the Stags into turmoil, just when it seemed as though owner Keith Haslam had finally sold the club more than a year after publically stating that was his intention.
On Thursday evening, Chad spoke to James Derry - whose consortium included Mansfield businessmen Steve Hymas and Andy Sutton.
He said that he would be meeting Mr Booth on Friday and then issuing a statement.
Mr Derry - who saw his consortium (then including Mr Hymas and others now not involved) fail in a bid for the club last autumn before his new group's now three failed bids - declined to comment further.
Mr Booth has been unavailable for comment.
But it is believed that he was involved in meetings with members of the Derry consortium on Thursday afternoon, together with Mr Haslam.
Mr Booth has always insisted on details of any takeover bids being the subject of confidentiality agreements - but it is though that Thursday's negotiations with the consortium might have included discussions over reducing the terms of renting Field Mill should the Stags be relegated.
Have you got a question for Mr Batchelor? Post it below or e-mail Tim Morriss and we will collate them and put them to Mr Batchelor, who has promised to answer them. Please leave your questions by 5pm Friday and they will then be passed on to Mr Batchelor. Click here for answers so farThe full article contains 419 words and appears in n/a newspaper.
