Truro City have announced that the club is for sale and seeking fresh investment with co-owner Philip Perryman set to step down at the end of the season.
Local businessmen, Peter Masters and Perryman, rescued the White Tigers from administration in 2012 and it was planned that the latter would leave the club after five seasons.
Lee Hodges’ side are currently fourth in the National League South and made history this season by reaching the FA Cup first round.
The club is now debt free and is set to play future matches at the planned Stadium for Cornwall.
Truro have called for a new investor to replace Perryman or take complete control of the club.
Masters, who is the club’s chairman, said: “It has been well documented that my co-director Philip Perryman was going to step down at the end of the current season after completing a five-year stint with the club.
“The club is now starting the process of looking for a co-investor to come in alongside myself or, alternatively, for someone to come in and take control completely in order to take the club on to the next level.
“Obviously anyone considering a venture such as this will need to meet certain requirements of The Football Association and be of a sound financial footing given the considerable annual investment a club such as this requires.”