Chester City FC: Stephen Vaughan sells Chester City to property developer Gary Metcalf

Mar 20 2009 by Paul Wheelock, Chester Chronicle

STEPHEN Vaughan has assured fans he has left Chester City in safe hands after selling the cash-strapped club yesterday.

The Blues owner and majority shareholder ended his rollercoaster eight-year reign at the Deva Stadium by striking a deal with property developer Gary Metcalf.

Metcalf, managing director of Liverpool-based Property First Asset Management Ltd, will be unveiled at a press conference scheduled for noon today.

“He’s taken over the football club and I think it’s time for a change,” Vaughan told The Chronicle.

“People have made their views known to me that it’s time for a change. I’ve put eight seasons of my life into the club and millions of pounds, but now’s the time to go.

“I’ve done a deal with a person who’s convinced me they’re going to move the club forward.

“I’ve done what’s best for the club. It doesn’t matter what Stephen Vaughan feels about leaving, I’ve done what’s best for Chester City Football Club.”

Metcalf’s company have been acting as the project developers for a multi-million pound upgrade of the Deva, a brainchild of Vaughan’s which is still subject to council approval.

“He’s the one who’s putting the project to develop Chester City FC together,” said Vaughan.

“There’s a development opportunity there that I think the club are going to benefit from.”

Vaughan bought the Blues in 2001 and bankrolled their return to the Football League in 2004, but they have struggled since winning promotion.

City are again embroiled in a desperate battle for survival, with a transfer embargo imposed for the late payment of players’ wages undermining their chances of beating the drop.

“I’m stepping down all together as I’ve found the right buyer,” said Vaughan, who put Chester up for sale in November after home crowds dipped dangerously close to the 1,000 mark.

“I feel I’ve done the right thing for the supporters and for the football club because, in my opinion, I’ve sold to the right person.”