Stephen Vaughan Jnr has made a return to Cymru Alliance side Bangor City.
The Citizens announced him as their new chairman, having left Maltese Premier League side Mosta as assistant manager after a brief spell.
Vaughn Jnr had previously been caretaker manager this season after the departure of Craig Harrison and was also the Director of Football.
Bangor revealed that they had received two offers. One from a consortium based in Canada, whilst another from the north west of England were reported to have made enquiries.
The Supporters Association also have been offered the club, should they be able to find funds which would allow them to continue running as a club.
Bangor have withdrawn their Tier One application and are now hopeful that they can achieve the Tier Two licence, which would ensure they would play in the FAW Championship North next season.
A statement read: “The plan will be to finish this season as competitive as possibly keeping within the current budget and then start to rebuild for next season.
“The first step will be to start tackling all the off-field issues and the outstanding creditors which includes the players and staff.
“The water bill has been paid and reconnected, HMRC/payroll has been paid up to date and the electricity will be turned back on. This will be back on within seven to 14 days.”
Bangor have been forced to play away from their Nantporth home the last number of games. Their next scheduled home fixture is this Saturday, when they take on Penrhyncoch. The venue for the fixture hasn’t been announced yet.
The club are also set to announce a new stadium sponsor, with it due to be announced on Thursday.
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