The Minstermen have announced the Supporters’ Trust has taken control as the club prepares for the new campaign.
Jason McGill has sold his majority stake in the club, bringing to an end his 16 years at the helm.
They say the future is bright with exciting plans for the future as manager John Askey continues to build an impressive squad ahead of the new season.
A statement by the Trust said: “The Trust would like to thank the enduring efforts of the York City board of directors, JMP and particularly Jason McGill.
"We recognise the huge time commitment and financial contributions they have made to help transition the club to the LNER Community Stadium and provide a springboard to take the club forward for the next 100 years.
"Following meetings today with manager John Askey, first-team coach Kingsley James and staff, the club will make further announcements about our exciting plans for the future."
York City released the following statement: "Following the transfer of Shares held in York City Football Club by JM Packaging Limited the Board of Directors leave the Club having established their long-term objective of necessary stability which provides the Manager and Players with an enviable modern Stadium secured on a 99-year lease and with Net Assets of £4.2 million at 30 June 2021.
"The Directors also ensured advance rent for the Stadium of £1.65 million was paid to City of York Council thereby providing playing security for a 10-year period and during the first full-season within the new facility promotion to The National League was achieved.
"Our enhanced training facilities are the envy of many similar Football Clubs and Jason McGill would like to thank all staff at York City Football Club, York Stadium Management Company and the Foundation for their fantastic efforts and support over the years.
"In addition Jason McGill wishes to acknowledge with grateful thanks the very significant time and endeavour together with stoicism given by the Board of Directors who are, in no particular order, Steven Kilmartin, Ian McAndrew, Dave Penney and Richard Adams."