‘I am selling up and stepping down,’ York City chairman says
York City’s chairman is selling his shares in the club and stepping down, he confirmed today (Wednesday, 15 February).
Glen Henderson revealed that he has agreed to sell his 51% stake in City – seven months after buying in.
He issued a statement as rumours swirled around the future of the club that a sale was to go ahead this week.
“Whilst I appreciate that many fans have made their decisions about me, I feel it is appropriate to remain open about my ongoing involvement, and to ensure that fans are fully aware that I have agreed to sell my shares,” he said.
A spokesperson for the club confirmed that he will step down as chairman after selling his shares.
Mr Henderson first offered to sell his shares in December, in the light of fans’ anger over his decision to sack promotion-winning manager John Askey.
But then he withdrew that offer before Christmas, saying it was done by mistake when he was ill with Covid.
However, the York City Supporters’ Trust said that they had accepted his offer to sell his shares under a legally binding buy-back clause in the original deal.
‘Not looking to profit’
The trust owns 49% of the shares. It issued an acceptance notice on 5 January. As the rules then give it 90 days to pay for Mr Henderson’s shares, the deadline is 4 April.
“Since the trust’s announcement in January, I have been working with them as much as possible, and following all relevant protocol,” Mr Henderson said.
“The trust have been working hard to secure funding to buy my shares in the club. And, as many of you would have been, I was expecting something concrete by today.
“However, I am told this has not come to fruition at this stage, but I confirm my commitment to keep working together with the trust.”
He said the club’s success remains a priority. “I have offered to continue to provide resources to ensure stability, and am not looking to profit in any way, but can confirm this has not been accepted due to the ongoing purchase negotiations, so my hands are tied until 4th April.
“Following this date, I would then have the option to offer the shares to the open market.
“We will all continue to work hard for the best interests of York City Football Club.”
York City Supporters’ Trust issued their own statement in response. “It is important to stress that Glen has been working positively with the trust to ensure that the transaction proceeds without delay at the appropriate time,” it said.
“Due to various pressures both on and off the pitch, the trust is working with various interested parties to expedite the process as quickly as possible.
“In the meantime, the trust is providing an injection of working capital to ensure the smooth ongoing operations of the football club.”
It will welcome online donations from supporters here.