Chester FC are close to finalising a deal for investment in the football club from wealthy entrepreneur Stuart Murphy.
At a press conference at the Grosvenor Hotel, Chester, on May 10, Murphy, founder of city-based business rates firm and one-time stadium sponsor Exacta Plc, was unveiled as the mystery businessman who wished to donate a 'substantial' amount of money into the fan-owned football club.
Murphy, 64, a Blues fan, has bequeathed the club the money, insisting that he does not expect to see a penny of it back, with the motivating factor behind his donation being so that he can 'give something back to the city' and help the club be sustainable moving forward.
At the press conference Murphy said: "Chester has been very kind to me over the years, I started my business here 20 years ago and I decided that I needed to put something back into the city and the football club seemed an obvious challenge - and I love a challenge.
"The situation requires some serious cash, some knowledge and some enthusiasm and I have got plenty and I can invest the money into the club. Every pound I invest I want to see £2 come back for the club to make it sustainable over many years. It should never need to look for cash again if we build it right and build it fast and get out of this league next season, that's the first priority.
"We want to improve all the facilities, everything about the match day experience, everything. We have to do it by 100%, by 200%. Whatever we do we will get the rewards back next season, the season after and the season after that."
Murphy and Blues non-director Richard Lynes outlined at the press conference that the aim was to conclude the deal by the end of May, with the first tranche of money 'urgent' for the football club to plan for next season, according to Murphy.
And Blues chairman David Harrington-Wright says that everything remains on course and that it is hoped that the deal will be completed in the coming days.
"We have been in constant dialogue with Stuart and his solicitors and we are nearly there with it all now," said Harrington-Wright.
"There are no sticking points or stumbling blocks, we are just making sure that everything is right with the contracts. The aim was for the end of the month and that remains the hope.
"It will be a very exciting development for this football club when it all comes to fruition. With this and the appointment of Bernard and Jonno as managers we have reasons to be cheerful for the next season and beyond."