Thursday 29 October 2015 12:03, UK
Accrington Stanley have a new owner after it was agreed for businessman Andy Holt to buy the majority sharehold and clear the League Two club's debts.
At a meeting at the Wham Stadium on Wednesday, a majority of over 70 per cent voted in favour of a deal which will see Holt clear £1.2m of debt and secure around £600,000 of new capital for the Reds.
The deal is subject to clearance from the Football League and means Holt becomes a director of the club, three-quarters of which is now owned by his company What More UK.
Current chairman Peter Marsden will remain in the role as part of a slimmed down board of five members.
And he said: "The current board have been keeping the club ticking over but Andy's involvement is the best thing to happen to Accrington Stanley.
"Andy is a successful local businessman, he is self-made and frankly a good bloke. He came on board as the club sponsor and has caught the Stanley bug.
Stanley manager John Coleman, who has led Stanley to seventh in League Two after seven wins from 15 games so far this season, believes the club "are on the brink of possibly the biggest moment in their history".
And new owner Holt said: "The big thing is clearing the debt. This way it is squared off and we can look at ground improvements, growing revenue and increasing the crowds.
"It won't happen overnight but we are putting plans in place. This club needs help and we are in a position to help so why not? It will be good fun.
"If we can get rid of the debts and break even without winning the FA Cup final then that would be a good achievement."
