National League
Long-serving chairman and majority shareholder Jason McGill has sold his stake in York City, allowing the Supporters’ Trust to take full control.
The Trust have bought back the 75% shareholding they sold to McGill’s JM Packaging in 2016.
The Trust said: “In 2006, Trust members approved the transfer of 75% of the shares in the football club to JMP. Part of that takeover gave the Trust the right to purchase the shares back from JMP should they ever choose to sell them.
“In March 2022, the Trust reached further agreements with JMP and the football club to facilitate the transition to new ownership within a three month period.
“Today, those arrangements have concluded with the transfer of JMP’s shares to the Trust.
“The Trust would like to thank the enduring efforts of the York City board of directors, JMP and particularly Jason McGill.
“We recognise the huge time commitment and financial contributions they have made to help transition the club to the LNER stadium and provide a springboard to take the club forward for the next 100 years.
“Following meetings today with John Askey, Kingsley James and staff, the club will make further announcements about our exciting plans for the future.”
In a statement from the outgoing board of directors, they said York had a solid financial footing.
The statement said: “Following the transfer of Shares held in York City Football Club by JM Packaging Limited the Board of Directors leave the Club having established their long-term objective of necessary stability which provides the Manager and Players with an enviable modern Stadium secured on a 99-year lease and with Net Assets of £4.2 million at 30 June 2021.
“The Directors also ensured advance rent for the Stadium of £1.65 million was paid to City of York Council thereby providing playing security for a 10-year period and during the first full-season within the new facility promotion to The National League was achieved.
“Our enhanced training facilities are the envy of many similar Football Clubs and Jason McGill would like to thank all staff at York City Football Club, York Stadium Management Company and the Foundation for their fantastic efforts and support over the years.
“In addition Jason McGill wishes to acknowledge with grateful thanks the very significant time and endeavour together with stoicism given by the Board of Directors who are, in no particular order, Steven Kilmartin, Ian McAndrew, Dave Penney and Richard Adams.”