YORK City chairman Jason McGill has put the club up for sale and The Press understands there are at least two parties interested in discussing a takeover.

McGill's decision follows the rejection of the Golden Share Proposal at Thursday night's Supporters Trust special general meeting when a 'No' vote was passed by a 68 per cent majority at Millthorpe School.

A 'Yes' decision would have seen McGill acquire the Trust's 25 per cent stake in the club to assume a 100 per cent shareholding, with certain protections to be encompassed by the "golden share".

In a club statement, McGill said: "I was immensely disappointed at the decision last night by a majority of 139 members of the York City Supporters Trust to decline my offer of financing the club until the opening of the new Community Stadium - which clearly has a wide-reaching impact upon the substantial loyal York City fan base.

"It is, therefore, with deep regret I consider there is no alternative other than to offer the interests of JM Packaging Limited in the football club for sale to someone who is able to reconcile the Trust’s objective of operating on a breakeven financial position, whilst providing both the finances and aspiration necessary for any sporting entity to be successful.

"Interested parties, including the York City Supporters Trust, in accordance with the 2006 agreements, should contact my accountant Steven Kilmartin, at Hentons (York) Limited, 124 Acomb Road, York, YO24 4EY, with details of outline proposals and proof of their financial integrity to support a satisfactory outcome to negotiations.

"Any submissions, meeting the minimum requirements mentioned, need to be registered by April 30, 2018."

Back in November 2016, McGill revealed that he had rebuffed an approach from Tadcaster Albion’s owners i2i Sports to offer outside investment, saying: "There was interest from i2i, but I felt it was more of a fishing exercise and, having looked at their Companies House records, I decided against it.

“I didn't think they would be appropriate in terms of taking the club forward and would have added nothing to York City Football Club."