STEPHEN Vaughan has exclusively revealed to The Chronicle details of the clubs financial situation - and how he plans to take the club forward.
The Blues owner called on fans to stop the infighting and help him build a successful club again after coming out as the only bidder administrator Refresh Recovery felt was viable with the conference AGM just a fortnight away.
Basically the situation is that if I take the club through a CVA (Company Voluntary Arrangement) the debt will be £290,000, said Vaughan.
But if the club goes to another bidder the debt will be £4,290,000.
I have met with the Conference and they are looking forward to us joining the league.
I want to just take the 10 point hit, which we will overcome, and move forward.
Vaughan has pledged to write off the £4 million of debentures he is owed by the club as well as not paying out any dividends to secure the future of Chester City.
He told how the club was still paying the wages of all the players they had released, bar James Vaughan, Kevin Ellison and Ryan Lowe, until June 30 but insisted that he would be able to provide funds for a strong squad next season.
There are players queuing up to join this club and we will be able to compete with the top five next season, said Vaughan.
What people need to realise though is that I am the only person willing to realistically take this club forward. The administrators have noted that and that is why we need to look forward now.
