06-07-2022, 15:45
York City Supporters' Trust has bought the National League club and immediately sold 51% to investor Glen Henderson to take joint ownership.
The Trust initially bought back the 75% shareholding sold to JM Packaging in 2006 to take ownership of the club.
They then sold a controlling stake to Henderson, keeping the remaining 49%.
"We look forward to working with Glen and everyone associated with the club to bring about a new chapter," Trust chairman Mike Brown said.
"As guardians of the football club since 2002, the Trust board are proud to have secured a change in ownership and investment that provides the club with a fantastic opportunity to grow and flourish.
"It's been a tough journey at times, but we have been resolute in our objective of delivering a new fan focused ethos at the club.
"As we've developed our partnership with Glen it's been increasingly clear that he has all the right skills, business experience, football knowledge, resources, personality, and energy to help us take the club forward."
The Trust's initial purchase of the full 100% of the share prompted the board of directors to also step aside when the transfer completed on Tuesday.
Henderson will take a place on the newly formed board of directors later this week alongside Trust board member Alastair Smith, who will take over as chief executive.
"Following meetings today with John Askey, Kingsley James and staff, the club will make further announcements about our exciting plans for the future," it said.
The club's directors said in their statement they were happy to hand the club over having achieved "their long-term objective of necessary stability", "an enviable modern stadium" and with "net assets of £4.2m".
They also paid the stadium rent for the club for the next 10 years.
York return to the National League this season after winning their National League North play-off against Boston in May.
The Trust initially bought back the 75% shareholding sold to JM Packaging in 2006 to take ownership of the club.
They then sold a controlling stake to Henderson, keeping the remaining 49%.
"We look forward to working with Glen and everyone associated with the club to bring about a new chapter," Trust chairman Mike Brown said.
"As guardians of the football club since 2002, the Trust board are proud to have secured a change in ownership and investment that provides the club with a fantastic opportunity to grow and flourish.
"It's been a tough journey at times, but we have been resolute in our objective of delivering a new fan focused ethos at the club.
"As we've developed our partnership with Glen it's been increasingly clear that he has all the right skills, business experience, football knowledge, resources, personality, and energy to help us take the club forward."
The Trust's initial purchase of the full 100% of the share prompted the board of directors to also step aside when the transfer completed on Tuesday.
Henderson will take a place on the newly formed board of directors later this week alongside Trust board member Alastair Smith, who will take over as chief executive.
"Following meetings today with John Askey, Kingsley James and staff, the club will make further announcements about our exciting plans for the future," it said.
The club's directors said in their statement they were happy to hand the club over having achieved "their long-term objective of necessary stability", "an enviable modern stadium" and with "net assets of £4.2m".
They also paid the stadium rent for the club for the next 10 years.
York return to the National League this season after winning their National League North play-off against Boston in May.
Have you heard about the news on Mizar 5
People got to shout to stay alive
People got to shout to stay alive