Kendal Town Football Club has rejected a business consortium's offer to invest.
In a statement, the club said it wasn't prepared to move away from its members-owned and not-for-profit status.
The Mintcakes say they're still open to to further discussion about the future as well as unconditional offers of support.
However, chairman George Gudgeon added the club is capable of delivering its plans on its own.
The following was posted to the club's website:
"Following the conclusion of considerations in respect of the approach made by the consortium, a meeting was held on Wednesday 20th January between both parties.
"Kendal Town FC informed the consortium that it was not able to consider an approach that invoked a change in status from a members owned football club operated on a not for profit basis to that of private ownership operated allowing an individual shareholder return. The club confirmed the similarity of it’s plans to those of the consortium and that the current status and infrastructure of the club is capable of delivering on them. The various areas and expertise and finances made available by the consortium were not thought to be immediately necessary, although any non conditional offers of support are always welcomed. In closing matters between both parties it was confirmed that the approach made by the consortium on the above basis had been rejected by the football club, but the management committee remained open to further discussions and offers of support.
"Speaking of the decision, Club Chairman George Gudgeon said “We would like to thank the consortium for their interest in the club. They have the experience and credentials worthy of consideration by any football club looking for the type of infrastructure they are prepared to offer. The management committee now look forward to focusing our efforts on our plans for the football club and delivering success both on and off the pitch”
"Stephen Turner, who led the consortium, commented “Through a period of discussions it became evident that our investment was not needed to support or develop the club. There is enormous potential at Kendal Town Football Club and my team wish everyone at the club success for the future.”
"This statement brings to an end the approach by the consortium and neither party will make any further comment."