Mark Guterman, former chairman of the Dragons' arch rivals Chester City, became the majority shareholder of the Racecourse Ground after Pryce Griffiths retired.

We think we'll have a team good enough to have a really good go of getting out of this division either this year or next year

Mark Guterman, Chairman Wrexham Football Club

Mr Griffiths, who has recently suffered from ill health, will remain as lifelong president.

The club has been dogged by money worries for some time and Mr Guterman has stepped in on several occasions to pay players' wages.

Last season, the team were relegated to Nationwide Division Three, placing extra pressure on the Cheshire-based property developer.

However, Mr Guterman believes the club has potential: "I've been helping the club over the past two months and now the deal has been signed.

There will be no change to managerial staff

"We think we'll have a team good enough to have a really good go of getting out of this division either this year or next year."

Under the new arrangements, David Rhodes will stay on in the role of managing director, Denis Smith as manager and Kevin Russell as his assistant.

However, future investors will be brought in once the club has been stabilised.

Mr Guterman added: "David Rhodes has been the club's anchor and will continue running the club.

"He will stay on and it will be business as usual."

At the moment, the new owner is concentrating on balancing the books.

David Rhodes has pledged to stay with the club

"It's strange to invest in football but I've always had a feeling for this club and I believe it has massive potential.

"It's a sleeping, medium-sized, club," he said.

Assistant Manager Kevin Russell has endorsed Wrexham's new signing: "It's been a long time coming and it's been on the back burner for a while.

"There have been times when the wages haven't been paid and Mark came in and paid them.

"The players can be 100% positive now after a summer of uncertainty last season."

For the fans who have been dubious about the announcement Mark Guterman has this advice.

"Judge me on what you see, judge me on the signings and on-the-field activity."