It has been the subject of much rumour and conjecture since its announcement last month, but the identity of the individual who wishes to donate a 'substantial' amount of money to Chester FC has been revealed.

At a press conference at Chester's Grosvenor Hotel on Thursday afternoon, entrepreneur Stuart Murphy was revealed to be the man behind the offer of financial assistance to the cash-strapped Blues.

A self-confessed Blues fan with strong links to the city of Chester, Murphy has had previous involvement with the football club in a sponsorship role when his city-based business rates firm Exacta Plc sponsored the home stadium for five years from 2010 to 2015.

Murphy insists that he wants to 'give something back' and stressed that his involvement was not a 'money making exercise' and that the financial help would be used to aid the infrastructure of the football club rather than being added to the playing budget.

"I'm thrilled to be able to help Chester FC - I love the city and wanted to give something back," said Murphy.

"I want to make it clear from the outset that this is not a money-making exercise.

"Both myself and the CFU board have some really great ideas as to how we could spend the donated funds for the benefit of the club - focusing on improving the infrastructure and maximising revenue streams. Dare I say it, but there are some really exciting things in the pipeline and fans have every right to be excited with what the future may hold.

"We don't have a city centre location, but we can use that to our benefit and create a vibrant hub to create a real buzz around the area. I'd like Chester FC to be an exciting place for new fans to visit and crucially - a better place for existing fans to enjoy.

"As a supporter myself, I look at the things the club do well and also what the club could do better. Last season was a tough one to take as regards the first team - but we must never forget that Chester FC is more than just the first team. Look at the brilliant work of the Academy and the Community Trust and volunteers. It's truly humbling to see how football can inspire people from all walks of life and we should never underplay the role a football club can play in the community.

"It's important that we keep that fire in our bellies and now focus on making Chester FC the best it can possibly be."

Due diligence has been shared between the parties and and a 'heads of agreement' has now been approved with a view to completing all legal processes by the end of this month (May).