After months of uncertainty Truro City fans can finally breathe a sigh of relief after administrators Walsh Taylor confirmed the sale of the club to two Truro-based businessmen.

Peter Masters of L2 Nightclub, and Philip Perryman of A2B Taxis stepped in to save the club from extinction back in October when they paid a £50,000 bond which saved city from liquidation and allowed manager Lee Hodges' side to continue playing in the Blue Square Bet Conference South.

In the statement club administrator Breese, who has been overseeing negotations, said: "I would like to thank everyone associated with the club for their patience and support whilst a deal has been agreed to safeguard the club's future.

"There have been a number of particularly complex issues surrounding the sale of the club, including issues over the ground at Treyew Road and due diligence relating to the club, but we have now resolved these matters so that a sale could complete.

"There has been a huge effort involved to save Truro City FC and to that extent I thank all the professionals involved in not only running the club, but pulling together a sale, with particular efforts from my colleague Gareth Howarth of Walsh Taylor, my lawyer James Moore of Walker Morris, and Dale Band and Rebecca Rollinson of Nalders who acted for the purchaser.

"I would like to show my appreciation to the players and staff without whose support we would not have been able to trade whilst in administration.

"I would like to pay particular note to the efforts of Lee Hodges as manager who has been another crucial member of staff in keeping the players together over a very difficult period and Tracey Finemore who has given a fantastic effort as Club Secretary to assist with day-to-day running of the club whilst in administration.

"Although a sale has now completed, the company voluntary arrangement (CVA) that is required to be passed in order to ensure that the club can exit administration in accordance with The Football Conference Rules has not yet been issued. This is expected to be issued in the near future following which it is hoped that the club will be able to formally exit administration in accordance with the requirements of The Football Conference.

"If that happens and the CVA is accepted by the requisite majority of creditors, then if the team are able to secure safety from relegation on the field, the club should then be able to retain its status as a Football Conference Club and begin a new life under new leadership.

I add that during my time as administrator of Truro City FC, it has become clear that in order for the club to survive at this level it needs the support of the fans to turn out in numbers at home games and I would hope that fan support can secure the long term future of Truro City FC."

Peter Masters said: "It has been a long past few weeks but all of the efforts put in by everyone involved has been tireless and has culminated in the completion of the purchase of the club.

"We can all now look forward as opposed to looking back trying to rectify the issues that the club has accumulated in the past. This is our new start and we are excited for the club because the financial troubles that the club has had in the past can now be forgotten.

"There is still a lot of hard work to be done in terms of concluding a CVA so that the regulatory requirements can be completed so as to comply with Football Conference Rules, and we still need the support of the creditors in this respect but the club is now under our control so that we can work towards a more certain future.

"The players have been terrific from the start of our involvement and we fully expect that relationship to continue now that we own the club. They have had to make some big sacrifices for the club which were done in an effort to save the club which has been successful and for that we are very grateful.

"We would like to say a very big thank you to Dale Band and his team at Nalders Solicitors, Ian Fraser and his team at Bishop Fleming Accountants who can both take a great deal of credit for why Truro City Football Club is alive and kicking today. We would also like to thank the administrator, Kate Breese of Walsh Taylor who has done a great job conducting the administration.

"We now have a fantastic opportunity of a home game just after completion to get a buzz back and three much needed points at Treyew Road so we hope that as many fans both old and new can join us for this new era for the club."