YORK City have announced a net equity increase to over £4.1million.

The financial news follows on from the payments made last month to three former club directors - Douglas Craig, Barry Swallow and Colin Webb - following the sale of Bootham Crescent to Persimmon Homes.

Writing on the York City website, a club statement read: "The Directors are delighted to advise supporters that audited financial statements in respect of the year ended 30 June 2021 have been filed recently with Companies House which reflect an overall surplus of assets over liabilities (net equity) amounting to £3.582,036.

"In addition, following recent payments made to ex-directors and shareholder of £285,470, being their final legal entitlement following a transfer by themselves of the former ground to Bootham Crescent Holdings Limited, the net equity of the Football Club has increased further to £4,169,149."

The statement added that its "progressive policy of successful forward planning which will hopefully lead to success on the field and ultimately a return to the Football League."