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Page last updated at 07:33 GMT, Friday, 1 April 2011 08:33 UK

Accrington chairman Ilyas Khan confirms restructure

Ilyas Khan
Khan has been non-executive chairman since November 2009

The future of Accrington is more secure after a restructuring of the League Two club's board was finally completed.

Former managing director David O'Neill will continue as a director until the end of the season, while Eric Whalley is no longer a shareholder.

"All of us that are associated with the club need to make sure that we look forward," chairman Ilyas Khan told BBC Radio Lancashire.

"But if we do look backwards we need to do it with a positive view."

Khan, who is now also the largest shareholder, added: "We're a small club and a small town but we really need all the good news we can get.

"As much as I've been nervous about what's going on on the pitch, I've also been nervous about what's been going on off it. It's been a bit of a long road and I'm glad we've now got there."

I have always said that Accrington Stanley should not have a controlling shareholder

Accrington chairman Ilyas Khan

Khan, speaking the day before the announcement, was concerned the club's future was in the balance with the continuing ownership wrangle.

But after confirming he will settle all Accrington's debts, including monies owed to the players, he feels they are now on a more stable footing financially.

"The important thing is the club can now receive the funding that it requires in order to meet its obligations," said Khan.

"I do not need any more shares from anybody - I will do that as an act of donation.

"Eric [former chairman and owner] has very kindly agreed to complete the deal that he and David had talked about a number of years ago, which has been widely reported.

"On the completion of that deal, David then turned around and gave the shares back to the club and as a nominee of the club I've taken them on.

"But this is a part way completion because I have always said that Accrington Stanley should not have a controlling shareholder. A club such as Accrington should be owned as widely as possible and run by people that are professional, so my ownership as of now is temporary.

"It allows us to get back on what I believe is the right track."

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