YORK City Supporters' Trust was poised to stride into history today as the new owners of the club.

The Trust's bold take-over of the Minstermen was expected to be confirmed fittingly at Bootham Crescent at the re-opening of the creditors' meeting, which was postponed a week ago after a wrangle over the cash likely to be paid to the taxman under the Company Voluntary Arrangement.

However, after earnest talks between the club's administrators Jackson Jolliffe Cork, the Inland Revenue and Customs and Excise, plus the Trust, the way was finally cleared for the supporters' group to take command less than 15 months after it was first formed.

So as to conclude the new deal the Evening Press understands the Trust and the administrators made further concessions to meet the tax authorities' demands of 50p in the pound towards a tax bill totalling £80,000.

Jacksons Jolliffe Cork have ring-fenced £50,000 of their fees towards the bill with the Trust paying another £16,000 to JJC, who will then forward that to the taxman in 12 monthly payments over the duration of the CVA.

A further payment of £14,000 will be paid by the Trust direct to the Crown over a three-year period.

Today's momentous day in the Minstermen's history has been long sought after and fought for by the Trust, who grew out of the shock waves of December 2001 when the bombshell was dropped that Bootham Crescent had been put up for sale by landlords Bootham Crescent Holdings.

Today's decision would also end seven days of further anguish when the original proposal by the Trust to enter into a Company Voluntary Arrangement, whereby creditors would get a fraction of what they were owed, was dramatically shelved.

Frenetic bouts of frantic dialogue with the tax authorities ended with last week's meeting being adjourned no less than three times before it was put back until today. The Inland Revenue insisted on more time to consider new proposals that would yield them a bigger pence in the pound dividend from the CVA.

That left the club, its staff, players, management and fans in limbo as, without approval from the taxman, the Football League would not sanction the Trust's take-over of the club, despite reaching the 75 per cent plus approval of creditors for the CVA.

More discussions were then needed before the Trust stepped in - for the third time - to bale out the club by agreeing to fund the running costs, estimated at anything between £30,000-£50,000 - for the past week.

Previously, the Trust had shelled out £92,000 followed by a further £60,000 to guarantee the club's short-term future.

The efforts to get the CVA accepted had already been boosted ahead of last week's meeting by the City players - effectively the club's biggest creditors - agreeing to vote in favour of a plan which would see them taking a 20 per cent deferment in wages.

The Evening Press, one of 145 unsecured creditors, also voted in favour of the Trust's proposal.

Updated: 10:40 Monday, March 24, 2003