York City chairman Jason McGill has confirmed the club is for sale after Supporters' Trust members voted against handing over their 25 per cent shareholding.
Only 385 votes were cast from 910 members with 262 votes against the proposal to give the Trusts shares over to McGill, with 123 in favour.
McGill has released a statement following the result explaining that the club is now up for sale.
It reads: “I was immensely disappointed at the decision last night by a majority of 139 members of the York City Supporters' Trust to decline my offer of financing the Football Club until the opening of the new Community Stadium – which clearly has a wide reaching impact upon the substantial loyal York City fan base.
“It is therefore with deep regret I consider there is no alternative other than to offer the interests of J M Packaging Limited in the Football Club for sale to someone who is able to reconcile the Trust's objective of operating on a breakeven financial position, whilst providing both the finances and aspiration necessary for any sporting entity to be successful.
“Interested parties, including the York City Supporters' Trust, in accordance with the 2006 Agreements, should contact my Accountant, Steven Kilmartin at Hentons (York) Limited, 124 Acomb Road, York, YO24 4EY, with details of outline proposals and proof of their financial integrity to support a satisfactory outcome to negotiations. Any submissions, meeting the minimum requirements mentioned, need to be registered by 30th April 2018.”
