York City have confirmed that no formal takeover bids were made for the club before the deadline of April 30th.
The National League North club were put up for sale by chairman Jason McGill in March after the York City Supporters Trust voted against handing over their 25% share in the club to majority shareholders J M Packaging Limited.
In a statement on the club’s website following the vote, McGill told fans: “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 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 JM 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.”
However, after no formal takeover bids were launched before yesterday’s deadline it has been announced that the club’s current shareholders will be contacted in an attempt to begin “constructing a workable budget for the 2018-19 season”.
The Minstermen finished this season outside of the National League North play-off positions after a miserable run of form, in which Martin Gray’s side failed to secure a victory in their final seven league games.
After disappointment on the field, the club’s fans now face a potentially anxious summer as they wait for further developments on the future direction of the club.
Tagged Jason McGill