The club has faced financial problems for years

The club has been battling serious financial problems which saw it suffer a double relegation to the newly named Blue Square North Division.

Bosses at the club agreed the move improved its chances of survival.

Managing director of Chestnut Homes David Newton said they were keen to save the club and rebuild with the help of local people.

As part of the deal Chestnut Homes has bought the holding company Standing Alone which was trying to buy the Pilgrims and agreed terms to buy another firm Lavaflow which owns United.

Boston's financial problems led to charges for former manager Steve Evans and ex-chairman Pat Malkinson of conspiracy to cheat the public revenue.

Evans was given a one-year prison sentence, suspended for two years, after admitting the offence and Malkinson was given a two-year suspended sentence after admitting a similar offence.