THE York Stadium Management Company contract has been transferred to York City rather than being in the name of football club chairman Jason McGill.

Malton-based businessman McGill, who is the Minstermen’s 75 per cent majority shareholder, is still the sole director of the company that will be in charge of operations at the new Community Stadium in Monks Cross, which is due to be open for business next summer.

But the legal change means that any future purchaser of the club could also assume control of the management contract.

Kilmartin pointed out: “The York Stadium Management Company was Incorporated on September 29, 2017 as an SPV (Special Purpose Vehicle) conventionally utilised by lawyers and accountants to facilitate details being included within intended or provisional agreements that would subsequently be ratified at a future date although the share necessarily issued to Jason McGill at the time of incorporation was simply held by him with no beneficial interest attached. Certain legal agreements have recently been formally entered into and, in preparation, this shareholding was transferred to York City Football Club Limited on September 18, 2018, thereby resulting in York Stadium Management Company becoming a 100 per cent-owned subsidiary of York City Football Club Limited.”