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Stephen Vaughan who owns 77 per cent of League 2 Chester City and also subsidises the financial shortfalls, resigned from his chairmanship and from the board of directors last month, but he has retained his ownership - and has no intention of giving it up. He said in a statement intended to end '"Chinese whispers" and internal gossiping', 'My heart is still very much with Chester City and I will continue to finance the club and give it support and commitment. But I have never said that I want to sell Chester City Football Club and that is still the case. However, there is still speculation that I want to sell and that is disappointing. It is true that I have received three offers for the club, the first one offered me £10 plus 10 per cent of the monies that I had put in, which by any standards is unacceptable - that of course assumes that the club was for sale. The second offer came from a sports management company, and that is being responded to by a director of Chester City who handles all my legal affairs. The third bid, quite frankly, was derisory, and isn't worth discussing publicly.'
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