The Eagles chief, who had owned the Eagles for almost 20 years, put a statement on the club’s official website that read: “When I took over the chairmanship of Bedford Town FC, seventeen and a half years ago, the club was in a parlous financial state.
“Our first objectives were to ensure the club’s survival and then to establish it on a sound and sustainable financial footing.
“We achieved these objectives and then moved on to developing some much improved facilities.
“It is now time for new owners to build on these solid foundations and take the club forward.
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“I have been talking to potential purchasers since the summer of last year.
“As a passionate, local supporter of Bedford Town it was important to me that the club should be left in local hands and run by people who are as passionate about it as I am.
“It is, therefore, particularly pleasing that the new owners are a local consortium that includes our manager Jon Taylor.
“I am proud to have served the club and the town over the past two decades and I am proud of what we have achieved.
“I wish Bedford Town, its owners and its supporters all the very best. I am confident the club is well placed to make progress in the future.”