First of all. I playing the game in German and tried it with a german club.
I did everything according to the "how to" and was amazed why it should always come to a player-led consortium.
It should not be possible anymore.
Nevertheless, at least I managed to get a message about a possible takeover of a tycoon. A week later, the talk was about an investor. Another 4 weeks later, however, only about a consortium of former players.
I've certainly tried it 30 times or even more and in the end it was always(!) only about a consortium of former players.
Then I replaced "Germany" with "Deutschland" in the files "valid_takeovers_only".
Now nothing happens for a few weeks and then it is about an promotion from within.
This is how it should be, i guess. But
sadly i did not manage to get a message about a tycoon-takeover.
I've certainly tried 30-40 times too.
So now i am not sure if it will be ever happen or if it is not possible for a german club.
Maybe I have to test in a nother nation to see how it works.