Tranmere Rovers Supporters Trust is play a part in the running of the club with a seat on the board of directors.

At a public meeting held at Prenton Park yesterday, chairman Peter Johnson committed himself to securing the long-term future of Rovers.

Mr Johnson said negotiations with several potential buyers have fallen through, and he revealed a new plan for sharing ownership of the club.

He explained that financial losses sustained over several years cannot continue and Tranmere is to issue new shares in a bid to seek fresh investment.

Mr Johnson said: “I announced in a television interview a fortnight ago that I believed I had identified a new owner for the club.

"Unfortunately, in trying to ensure that the deal was in the club’s best interest, it fell through.

"However, this will not stop us in our search for a new owner and someone to take the club forward.

“I can assure supporters that I am committed to the club and will not walk away until the right person is found to take over. "

The chairman continued:: “However, the losses that the club is making cannot continue. We have to become a football club that lives within its means.

“Our supporters are more important than ever to us.

“This share issue gives individuals and companies the chance to invest in Tranmere Rovers and gain part ownership of the club.

“Our offer to the Tranmere Rovers Trust would let them have a key role in determining the club’s future, helping make decisions and improving our relationship and communication with supporters.

A total of 2,000,000 shares will be offered to existing members priced at 50p each, with 300,000 of the shares being offered to the Tranmere Rovers Trust together with a place on the board of directors.

Mr Johnson said this season, the club sold 2,420 season tickets which raised £529,000: "I can guarantee that anything we raise over that for next season will be added to the playing budget," he said.

“For that to happen we need our supporters to help us, to encourage their friends and family to come and support us.

“We realise that this season has not gone to plan, on or off the pitch.

"But we are determined to make improvements.

“We know our fans care passionately about the club and we want to give them a club they can be proud of again.

“We want to be a football club at the heart of the community and one that the Wirral public embraces.”

Details of the share offer and how to subscribe will follow shortly.