CHESTER CITY, who had their relegation from the Football League confirmed last weekend, are already preparing for life in the Blue Square Premier League next season.

Demotion to non-league football will mean a loss of revenue. For the first year out of the Football League, the club will receive a parachute payment of around £250,000 which is 50% of the League’s annual payment to clubs, but after the first year there won’t be any League handout.

City owner Stephen Vaughan is considering placing the Deva Stadium outfit into financial administration, but he says that a final decision has still not been arrived at.

“There are various options open to us, and financial administration is one of them,” said Vaughan.

“But at the moment I am not ruling anything in, and not ruling anything out.

“Whatever decision I arrive at, it will be made in the best interests of Chester City.

“It is currently known that I am a debenture holder, which further safeguards the interests of the club.”

Vaughan added: “In the meantime, we intend to have a clear-out of the players who we don’t see as being a part of our future. Also the manager (Mark Wright) needs to clarify who will be his assistant manager.

“There is a lot of work to be done because we want to hit the ground running at the start of next season.”

The City owner confirmed that defender James Vaughan and midfield player Damian Mozika had already had their contracts terminated, whilst three senior players were on the brink of moving on to pastures new.

“Ryan Lowe, Kevin Ellison and Paul Linwood, who are all still under contract, have all spoken to me about their futures,” added Vaughan. “And if it is their wish we would agree to terminate their current deals.

“Decisions must be made soon so they and us can get on with our lives.”