Businessman Stuart Murphy has called off his bid to take-over Chester FC. The club will continue to be run as a fan owned club.
"Following developments over the weekend, I have reluctantly taken the decision to withdraw my offer to take over Chester FC," said Murphy.
Murphy had offered to build a 'Sporting Village'.
"This ambitious project, which includes redevelopment of the stadium and a
host of attractions and leisure facilities, will benefit the wider
community of Chester and will provide a steady and vital stream of
revenue for the club beyond matchdays," he said.
"However I am not prepared to invest the significant sums required without having control to ensure that the funds are used wisely."
The club have also issued a statement in which they confirm Murphy has withdrawn his offer. They also say that Murphy has not completed his investment in the club.
"We can confirm that to date we have not received settlement of the outstanding financial commitments for the 2019/20 season, however we remain in discussion with Stuart regarding this matter."
The club have also issued a statement in which they confirm Murphy has withdrawn his offer. They also say that Murphy has not completed his investment in the club.
"We can confirm that to date we have not received settlement of the outstanding financial commitments for the 2019/20 season, however we remain in discussion with Stuart regarding this matter."