YORK CITY have been put up for sale after the Supporters Trust voted not to hand back their 25 per cent shareholding to the club.
Chairman Jason McGill had wanted the fans’ body to return the shares in return for a commitment from his company, JM Packaging, to continue funding the Minstermen until their scheduled move to a new stadium in 2019.
A special general meeting was held on Thursday night in the city to debate the ‘Golden Share’ proposal before a vote was taken among members. Of the 910 eligible to take part, 262 voted against the motion with 123 in favour.
McGill, who had warned members that a ‘no’ vote would lead to JM Packaging ceasing to cover the club’s future losses, responded by putting the National League North outfit up for sale.
He said: “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.
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 break-even financial position, whilst providing both the finances and aspiration necessary for any sporting entity to be successful.”
McGill, a lifelong fan, has been involved with City since 2003 and been the majority shareholder for the past 12 years.
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