Former Preston North End chairman Bryan Gray says he’s backing an Island businessman’s takeover of the club.

Trevor Hemmings has bought up a 68 per cent stake – just seven pert cent short of the target he needs to de-list the club from the Alternative Investment Market.

Mr Gray says floating the club in the '90s was the right move as it provided the cash for a major ground refurbishment and improvements,

But he says Mr Hemmings – a lifelong Preston fan – will give manager Darren Ferguson the chance to reach the Premier League if small shareholders sell to him.

75-year-old Mr Hemmings has given fans with shares until July 7 to decide whether to sell.