OXFORD City have a new majority shareholder in the form of the club’s director of football Justin Merritt.
Paul Lyon has relinquished most of his shares of the club, leaving Merritt as the new Hoops majority shareholder.
In a statement, the club confirmed that Lyon has stepped down as majority shareholder and director at City, relinquishing most of his shares and retaining a small shareholding.
Lyon, a lifelong Hoops supporter, has stepped down due to time and work commitments, but will remain club secretary. It leaves Merritt as the majority shareholder.
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Lyon told the club website: “I’m proud of my service as board director and shareholder, and of the great progress we have made to develop this wonderful football club.
“We have overcome significant challenges over the years and the club is now at the highest level in the football pyramid in its history.
“It is the right time for me to take a step back and give my businesses the focus and attention they need, and I’m delighted to be able to stay on and continue to serve the club as secretary.”
Lyon first became officially involved with City in 2015, supporting the integration of the Oxfordshire Youth Football League.
He became a director in 2017, with the Hoops enjoying great progression since then.
The club statement read: “During his directorship, the club has successfully re-structured, created a sustainable operating model and progressed on the pitch.
“Highlights have included FA Cup runs and last season’s promotion to the National League.”
Merritt told the Hoops website: “On behalf of everyone at Oxford City Football Club, I’d like to place on record our thanks and gratitude to Paul for his service, commitment and support over the years.
“It is an exciting time at the club, and this now creates an opportunity for us to attract new investment to help us stabilise and progress in the National League and fulfil our strategic growth ambitions.”
City will be inviting supporters to an open training session at the club between 12.30pm and 1.30pm on Saturday, with it being followed by a fans’ forum in the 1882 Bar to discuss the club’s strategy going forward.
The Hoops, under the guidance of head coach Ross Jenkins, earned promotion to Vanarama National League last season.
Despite being one of few part-time sides in the division, City have more than held their own in the majority of their league games, however have slipped to second from bottom in the table after a run of three consecutive defeats.
Scalps this season though have included the back-to-back victories against Boreham Wood and Hartlepool United, which the Hoops won 4-0 and 5-2 respectively, plus 3-0 win at home to AFC Fylde last month.
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