The mystery entrepreneur behind potentially substantial investment into Chester FC ‘wants to give something back’.

Earlier this month the board of City Fans United (CFU), the supporters group that owns the football club, revealed that they had been approached by a wealthy individual with links to the city over potentially putting money into the cash-strapped club.

The Blues board were quick to confirm that the individual, who wishes to remain anonymous at present, was not seeking any kind of takeover or shareholding and that the fan-owned nature of the club would not be changing.

Members of the CFU were informed of the club’s decision to take the interest to the next phase, with due diligence being carried out on both sides before progressing the matter any further.

And at last week’s informal CFU meeting at St Theresa’s Social Club in Blacon, non-executive director Richard Lynes updated those in attendance as to the current state of play.

Lynes told members that no details had yet been provided to the board as to the financial figure of the potential investment, although he did say the sum would be ‘substantial’.

“The individual wishes to remain anonymous at this stage but we believe he is legitimate and nothing so far has caused us to think otherwise,” Lynes told members.

“We believe that he wants to give something back. If it comes to fruition then it could be very exciting but at this stage we simply don’t know what will happen. It is very early.”

Lynes confirmed that there would be no takeover and no shares for sale, but he did say that the individual’s identity would have to be revealed if the matter continued to progress.

What Lynes did confirm, though, was that the offer of potential investment had nothing to do with the American -based British coach Matt Higgins, who took to social media earlier this month to claim he and a consortium had offered investment based on certain conditions.

Lynes also confirmed that Supporters Direct had conducted an independent review into Chester’s finances.

He told members that the review had shown the club’s accounting records were up to date and that Supporters Direct had commended the club in ‘being prudent to retain its reserve’, heading into the financial crisis.

The review did share concerns about the club being ‘too optimistic’ with its commercial projections at the beginning of this season.