The bidder selected has expressed a wish not to be publicly identified until the formalities are completed, but this development does now mean a first-team manager can be appointed early next week. The new owners will be interviewing managers early next week and after the selection process has been completed, an announcement will be made to the media, supporters, staff, and contracted players.

Commenting Club Chairman John Fry commented: “We have been working exceptionally hard to identify the right bid and this has been a challenging task as there were a number of legal and financial points to overcome.

“The deal we are announcing today is subject to the normal League and due diligence procedures, but all parties will now be working together to try and complete formalities as quickly as possible.

“Today’s news ends the recent period of uncertainty and what I am sure will be an exciting  future for the club. I would like this opportunity to thank our supporters for their patience, during this challenging period.”