YORK City chairman Jason McGill has hailed the football club’s £200,000 financial reward for reaching the final of the FA Trophy at Wembley.

Matty Blair’s 90th-minute header secured a 2-1 semi-final aggregate victory for City at Luton Town on Saturday and it is a goal that will be worth a significant six-figure sum to the 90-year-old club.

McGill’s Malton-based company JM Packaging have provided the Minstermen with £1.3 million in interest-free loans to cover operating losses since becoming 75 per cent majority shareholders at Bootham Crescent in 2006.

But this season’s accounts should now look a little healthier thanks to the efforts of Blair and his team-mates at Kenilworth Road.

City have already received £42,000 in prize money for making the May 12 final in London against Newport County.

The winner of that contest will receive a further £50,000, with the runners-up getting £25,000, not to mention an equal share of gate receipts and television revenue, as well as the commercial income available.

On the cash boost provided by Saturday’s triumph, McGill said: “From a financial perspective, it is really important for the club. It will be worth around £200,000 to us, which is very significant at our level. It’s no secret the club loses around £300,000 at Bootham Crescent every season to keep running a full-time professional side, a youth team and a community department. At the start of every campaign, we know those will be the losses in the Blue Square Bet Premier if we do not get to the Trophy final, the third round of the FA Cup or, of course, promoted.

“So, when you get days like Saturday, the board of directors feel vindicated in a way for continuing to aspire to where we want to be.” McGill also believes the final can prove a timely reminder of a football club’s importance to the community, ahead of next month’s City of York Council meeting to discuss Oakgate’s planning application for a new sports stadium at Monks Cross.

He said: “It’s very prestigious for the city of York at a time when the planning decision on a new stadium is due next month.

“It shows people we are an important asset to the city and we are looking forward to taking thousands of people to Wembley.

“It’s a great day out for people to feel proud of their city on a national stage. It will also be England v Wales in the FA Trophy final.”

McGill has been at the Bootham Crescent helm during unsuccessful finals at Wembley in the Trophy against Stevenage in 2009 and play-off opponents Oxford United 12 months later.

On Saturday’s success and playing at the world-famous stadium again, McGill said: “We got another late goal and I think that shows how fit the players are. Now, I hope we can put in a good performance at Wembley because we are due one.”