The Racecourse was thought to be a target for property developers

In buying out former business partner Alexander Hamilton, Guterman has scotched fears that the ground will be sold for commercial development.

Hamilton is thought to have favoured a plan to move the club to a smaller new stadium on the outskirts of the town.

"Mr Guterman's plans are to stay at the Racecourse and build the facilities," said a club statement.

The freehold of the land was sold to Manchester-based Damens Ltd (owned by Guterman and Hamilton) in June 2002, for a fee believed to be in the region of �300,000.

With Wrexham attracting home crowds in the region of 4,000 and the Racecourse able to accommodate 15,000, some felt that a move to a smaller, more cost-effective stadium was sensible.

After so many weeks of not being able to say anything, I'm delighted finally to make this announcement Mark Guterman

It would have been an unpopular move for the fans, though, who had planned a protest against Guterman on Saturday.

Many supporters have seen their chairman as an asset stripper, but his Racecourse move may have gone some way to assuaging their fears.

"After so many weeks of not being able to say anything, I'm delighted finally to make this announcement," Guterman told the Daily Post.

"We've still got problems to overcome at the club but we are going to work together to do that.

"We'd like to involve everyone who has the best interests of the club at heart."

The Racecourse deal is binding on both parties and subject to due diligence, and is set for completion in six weeks.

Whether it is enough to satisfy the fans about Guterman's long-term intentions remains to be seen, though.

It is expected that the protest against Guterman in the Dragons' final game of the season against Brighton will go ahead.