Former Accrington chairman Dave O'Neill has revealed his relief Stanley avoided a winding-up order in the High Court on Wednesday.

Stanley faced the threat of closure, but a restructuring of the League Two club resulted in the club paying their £308,000 debt to HM Revenue and Customs.

Local businessman Ilyas Khan has been appointed non-executive chairman and Peter Marsden as president, with O'Neill now managing director and head of operations.

O'Neill said "I am very pleased that the new board has come together, and that the future of Accrington Stanley Football Club is assured.

"The past few months have been challenging, but the positive changes effected on the field, and in the day to day management of the club can now be supported by a stronger financial backing and a board with the requisite experience and strength to move forward.

"I would like to thank the club's many well-wishers, and also HMRC and the PFA and the Football League for their support during these critical times. Accrington Stanley deserves to be a full part of the football world in Great Britain, and that is now assured."