CHAIRMAN Jason McGill has sold his majority stake in York City to Hartlepool-born businessman Glen Henderson and the Supporters’ Trust.

McGill, who first joined the club as a director in 2003, held a 75 per cent stake in York through his JM Packaging company.

He has sold that stake to the Trust, who previously held a 25 per cent stake, as part of an agreement between the two parties in 2006 allowing the Trust to purchase the shares back, should JMP choose to sell them.

The Trust and JMP agreed to facilitate a transition to new ownership within a three-month period in March, with those arrangements now settled.

51 per cent of those shares have been transferred to Henderson, who has a background in a business teaching sport in pre-school in America, with the Trust now holding a 49 per cent stake.

The move brings to an McGill’s 16 years at the club, which included promotion to League Two in 2012, back-to-back relegations in 2016 and 2017 to the Vanarama National League North before a promotion to the National League was secured last season.

A divisive figure among supporters, McGill had briefly put his stake in the club up for sale in 2018 after the Trust turned down his bid to take full ownership.

The former chairman’s relationship with supporters grew increasingly divided with many anti-McGill chants heard last year amid a vote of no confidence issued against the club’s board in September.

In April, “a genuine partnership” was said to have formed between the two parties following the sale of Bootham Crescent.

A statement by the Trust said: “The Trust would like to thank the enduring efforts of the York City board of directors, JMP and particularly Jason McGill.

"We recognise the huge time commitment and financial contributions they have made to help transition the club to the LNER (Community) Stadium and provide a springboard to take the club forward for the next 100 years.

"Following meetings today with (manager) John Askey, (first-team coach) Kingsley James and staff, the club will make further announcements about our exciting plans for the future."

York City released the following statement: "Following the transfer of Shares held in York City Football Club by JM Packaging Limited the Board of Directors leave the Club having established their long-term objective of necessary stability which provides the Manager and Players with an enviable modern Stadium secured on a 99-year lease and with Net Assets of £4.2 million at 30 June 2021.

"The Directors also ensured advance rent for the Stadium of £1.65 million was paid to City of York Council thereby providing playing security for a 10-year period and during the first full-season within the new facility promotion to The National League was achieved.

"Our enhanced training facilities are the envy of many similar Football Clubs and Jason McGill would like to thank all staff at York City Football Club, York Stadium Management Company and the Foundation for their fantastic efforts and support over the years.

"In addition Jason McGill wishes to acknowledge with grateful thanks the very significant time and endeavour together with stoicism given by the Board of Directors who are, in no particular order, Steven Kilmartin, Ian McAndrew, Dave Penney and Richard Adams."