Grimsby Town: 1878 Partners complete takeover of relegated League Two club

Grimsby Town will play in non-league next season after being relegated from League Two

Grimsby Town have been taken over by 1878 Partners, a company owned by Andrew Pettit and Jason Stockwood.

The Mariners have been relegated to the National League this season after five years back in the Football League.

Pettit and Stockwood were part of another consortium looking to buy the club earlier this year and retained their interest when one of the group pulled out of the deal.

Former majority shareholder John Fenty will leave the club's board.

Stockwood told the club website: "Grimsby Town belongs to the fans and the community. We are truly honoured to now be the custodians of the club, running it on their behalf.

"To that end, involving the fans is essential for us. We will listen carefully to them and will want their help in running the club properly and setting an ambitious, progressive and - crucially - sustainable vision for progress.

"We're fully aware we've inherited a club in a challenging situation and we commit to be open and transparent about what we can and can't do - and to be realistic about the job in hand.

"We wish to give special thanks to (manager) Paul Hurst for all the hard work and commitment he and his team have been putting in to build the squad from a tough position.

"We look forward to continuing to work with Paul and the team into next season and beyond."