Chester owner Stephen Vaughan has vowed to lead the cash-strapped club to a "top five" finish next season, despite revealing he is set to lose up to £4million through the administration process.

The Blues entered administration earlier this month and Vaughan has reportedly pledged to write off almost all of the six-figure debt he is owed by the club.

He told the Chester Chronicle: "Basically the situation is that if I take the club through a CVA [Company Voluntary Arrangement] the debt will be £290,000. But if the club goes to another bidder the debt will be £4,290,000.

"I have met with the Conference and they are looking forward to us joining the league. I want to just take the 10-point hit, which we will overcome, and move forward.

"There are players queuing up to join this club and we will be able to compete with the top five next season.

"What people need to realise though is that I am the only person willing to realistically take this club forward. The administrators have noted that and that is why we need to look forward now."