Chester FC have been given a major boost after it was confirmed that entrepreneur Stuart Murphy will be investing £1million into the club.
Last month it was revealed that businessman Murphy, founder of Chester-based business rates firm Exacta, was the man behind the proposed donation into the football club's infrastructure.
After due diligence on both sides and due legal process, the donation from Murphy has now been confirmed, with £1million gifted to the club over the next three years, with the majority of it to be used for infrastructure improvements to help the fan-owned club's overall sustainability.
The club have confirmed that Murphy's donation will have no dilution to the principles of fan ownership or the control of the football club and that the 63-year-old businessman, who is based in Majorca, is not seeking any personal return on his donation.
The news will come as a huge boost to Blues fans after 18 months of misery that saw them endure a financial meltdown and relegation from the National League.
The appointment of former Salford City bosses Anthony Johnson and Bernard Morley as joint-managers has helped energise supporters ahead of next season's National League North campaign, and it hasn't been ruled out that a small sum from the donation will be used to help aid a budget that has been hamstrung by liabilities on the wage bill carried over from poor management last season.
Murphy, originally from the Wirral and who sponsored Chester's stadium through Exacta in the club's early years following reformation, is hoping that the money can help the club to a brighter future.
"This gives me a great opportunity to give something back to the city of Chester and to the football club that I care for so much," said Murphy, who offered his help initially after the home defeat to Tranmere Rovers last season.
"I have lots of ideas to move the club forward positively and I can't wait to get started. There is much to do, but I am confident that together we can now start to write a new and far more positive chapter in the history of Chester FC."
Murphy has been invited to sit on the club's recently reinstated Operations Board for the duration of the three-year agreement and will be offering his business expertise and knowledge to help the club moving forward.
David Harrington-Wright, chairman of City Fans United, said: "I am so pleased for everyone that we have been given this opportunity. I know that Stuart is brimming with ideas and we are so grateful to him for this generous donation and for his skill, expertise and time that he will commit to help our club.
"This is a one-off chance for everyone at Chester Football Club. If we all pull together, we can really make it work."
Chester were aided by their legal team at Gateley Plc during the process while Supporters Direct also provided valuable assistance.
The club also thanked the legal team at Joliffes, and Simon Williams who represented Murphy during the process in order to reach a satisfactory conclusion for all parties.