The 22-year-old singer and lifetime supporter of the League One side had planned to invest money into the club and take over with former owner John Ryan, but the deal fell through before it was set to be signed off, reported Daily Mirror.
Tomlison has posted a series of tweets about the disappointment and insists he was "misled" by bosses who told him the deal was not dependent on how much cash was raised by the crowdfunder project, which was unable to gather the funding required for the takeover.
"I was explicitly told that the deal to buy the club was not dependent on the money raised by crowdfunding . Unfortunately I was misled. My passion for Doncaster Rovers remains as strong as ever, and I hope that I can still be involved with the club moving forward," he added.