News today from York City that the club now have over £4M in equity.
'The Directors are delighted to advise supporters of the Club that Audited Financial Statements in respect of the year ended 30 June 2021 have been filed recently with Companies House which reflect an overall surplus of Assets over Liabilities (Net Equity) amounting to £3.582,036.
In addition, following recent payments made to Ex-Directors and Shareholder of £285,470, being their final legal entitlement following a transfer by themselves of the former ground to Bootham Crescent Holdings Limited, the Net Equity of the Football Club has increased further to £4,169,149.
Without doubt it has been an incredibly lengthy and arduous journey from those dark days of 2003, when the Football Club came within 30 minutes of failing to exist, although the vision, tenacity and financial support of the Chairman, Jason McGill, has enabled the Club to create remarkably solid foundations for the current and future generations of supporters.
In addition to successfully resolving a previously dire financial situation the Chairman’s determination and endeavours have been instrumental in enabling a successful transition from the former ground at Bootham Crescent that reflected its age to a new purpose-built Community Stadium with security of tenure guaranteed for a minimum period of 99 years.
This culmination of events enables the Club to adopt a progressive policy of successful forward planning which will hopefully lead to success on the field and ultimately a return to the Football League.'