York City chairman Jason McGill puts 75% stake up for sale
Friday 23 March 2018 15:49, UK
York chairman Jason McGill has put his 75 percent stake in the club up for sale after being unable to reach an agreement with the club’s Supporters' Trust to assume full ownership.
McGill, the club's majority shareholder, announced his intentions after a special general meeting was held on Thursday where the Trust voted against the 'Golden Share Proposal'.
According to The Press, there was a 68 percent majority decision taken by the Trust, which has 910 members, against the proposal that would have seen McGill and his company J M Packaging hold complete control of the club.
McGill said in a club statement: "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."
York sit fourth in National League North, chasing promotion back to the National League after back-to-back relegations.
