York's home, Bootham Crescent

The Trust have agreed terms with administrators Jacksons Joliffe Cork to acquire the business and assets of the Minstermen.

"We effectively reached an agreement on Tuesday to move our bid on, and the administrator will move that forward to the creditors for a voluntary arrangement," spokesman Steve Beck said.

Match report: York 1-1 Bury

"It could take anything up to three weeks, and during that time we will have various meetings with footballing bodies - the Football League and the PFA - and with the playing and management staff.

"Everybody has been really supportive and we hope that continues."

The Trust's bid, which was the only one for the club, does not include the purchase of City's Bootham Crescent ground.

York will continue to play there for the remainder of the season, while the Trust will seek to keep the club at the ground until alternative facilities are found beyond 30 June when the current lease expires.

The Trust raised around �60,000 in five days to beat the latest deadline to keep the promotion-chasing club in business.