In a press conference on Monday afternoon, Bangor City Football Club announced that a Chester-based consortium has taken over the club, with the promise of major investment.
The consortium, led by new Chairman Ivor Jenkins, has promised an annual “six figure investment” to allow the club to compete for the Welsh Premier League title and to compete in Europe once again.
According to Jenkins, “we’re here to challenge The New Saints” and Bangor are “sleeping giants” who could be a “powerhouse in Europe once again.”
“We’ll put in one hundred, two hundred, three hundred thousand pounds until our pockets are dry,” said Jenkins.
Bangor City finished ninth in the Welsh Premier League last season, failing to qualify for Europe for the third time in four seasons.
Manager Neville Powell welcomed the investment saying “we want to get back into Europe and back winning trophies” but said that the investment “doesn’t mean that we won’t be using the young local lads.”
The current board of directors will stand down with immediate effect as the consortium take control of the club, with the Supporters Association chairman being invited to join the newly restructured board.
According to outgoing Chairman Dilwyn Jones, “we laid the foundations but the club now needs to go to the next level and the new staff will take us there.”