York City Supporters' Trust have voted by three to one to accept a takeover offer at a meeting on Tuesday evening.
City managing director Jason McGill's family firm is prepared to invest £1m in the Conference club in return for a share stake of 75% plus one share.
The Supporters Trust's shareholding will be reduced from 85% to one share less than 75%.
The Trust's board recommended that the 1,280 members backed the proposals to safeguard the club's future.
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