York City have more than a ray of hope
York City Supporters' Trust inched closer to taking control of the club after finally reaching an agreement with the Inland
As expected, the Revenue have accepted an offer of £100,000 from the trust as payment
for an outstanding bill of £160,000.
City could have gone into liquidation if the parties had failed to reach a compromise - but they have settled their differences at a creditors' meeting at
The move paves the way for the fans' group to take full control of the 81-year-old club.
The Trust's first two offers of 10 and 50 pence in the pound were rejected by the Inland Revenue, who have now agreed to accept 63 pence at the third meeting between the groups.
Spokeswoman Sophie McGill said: "I think we've found a solution.
"We originally offered 50 pence in the pound which equated to £80,000, but
the Inland Revenue said they wanted 63 pence and indicated that this was
"We have submitted an offer of £100,000 (63 pence in the pound) and are
therefore extremely hopeful that it will be accepted. We are now awaiting a
The money has been raised through a combination of the Supporters' Trust and
the willingness of administrators Jacksons Jolliffe Cork to waive a proportion
of their fees to provide funds for the club's preferential creditors.
The acceptance of the offer effectively secures York's position in the Football
League for next season.
The troubled Minstermen have been struggling with mounting debt for months but
the ultimate threat of liquidation is close to being quashed, helped largely by
cash donations from the Trust which have prevented York from going under on