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Page last updated at 16:14 GMT, Thursday, 11 June 2009 17:14 UK

Vaughan family buy Chester City

Chester City

Chester City have been bought from their administrators by the Vaughan family-backed Chester City Ltd 2004.

The Vaughan family, which include former City chairman Stephen Vaughan, now own 100% of the shareholding.

Vaughan told BBC Radio Merseyside: "We are now looking forward to the future and hopefully the people of Chester will get behind their club."

The announcement follows Thursday's agreement with creditors to allow the club to come out of administration.

Chester will find out on Saturday if they have been accepted into the Blue Square Premier following their relegation from League Two in May.

The club were put into voluntary administration by majority shareholder Stephen Vaughan following their relegation from League Two last month.

City had met with administrators, creditors and existing shareholders on Thursday morning to discuss the relegated Football League club's reported £7m debt.

They have been relegated from the Football League twice in the past nine years.

Chester sold last season's top scorer Ryan Lowe to beaten League Two play-off finalists Bury on Wednesday.

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