ACCRINGTON STANLEY shareholder Ilyas Khan has donated his stake in the club to fans in tribute to their ongoing support.

Khan, who owns 12 per cent of the club, said he was offering the shares to Accrington Stanley Supporters’ Fund as a gift in recognition of the ‘magnificent’ response of fans with fundraising and donations.

He has also asked ASSF to join with the official supporters’ club with a view to creating a fan-based trust to play a more active role in the club’s future.

The investment banker said he was aiming to show that ‘no one person is bigger than the club’.

Stanley have around three weeks to raise £308,000 to pay off an unpaid tax bill or face being wound up.

So far just short of £99,000 has been raised but the fund should get a boost tomorrow night when the Reds take on Blackburn Rovers at the Crown Ground.

Mr Khan said: “These are tough times, and actions speak louder than words.

“I remain worried about the immediate future of the club on November 2, and also worried for the months afterwards.

"I believe that by donating my shares to a true forum for supporters, I can lead by example and show that no one person is bigger than the club.

“At this point we should all shoulder arms and push towards a resolution that works for the club, without fear and favour.

“I also wish to thank all the people of East Lancashire and beyond who have been incredibly supportive in the past weeks and months and who have contributed to the club's appeal.

“I also wish to thank the players who have sent me messages of support.

“I stand in awe of your dedication, and that of the various staff and unpaid volunteers at our wonderful club.”

Last week Mr Khan withdrew his offer to pay off the club’s debts in exchange shares for the supporters’ fund to the value of his investment.

The deal fell down as Stanley bosses do not want to relinquish control, prompting a row.

Stanley Chief Executive Rob Heys praised Mr Khan’s gesture: “It shows his heart is 100 per cent in the right place.

"If supporters are fundraising for the club, it is only right they have a say in how that money is spent.

"It could have a very positive impact.”