The announcement was made to cheering supporters during a special fans forum at Field Mill on Thursday night by Stags chief executive Stephen Booth.

• Stags fans forum - all the news

When asked by one supporter if the club had been sold, Mr Booth replied: "Yes, but a qualified yes . . . but James Derry and his consortium are now effectively in control . . . in essence the deal is done."

The surprise announcement came after a day of negotiations between the Derry consortium, Stephen Booth - brought into the club to broker a sale - and Keith Haslam.

The deal has still to be ratified by the lawyers, but Mr Booth told the forum - organised by the Stags Supporters Association - that he expected the paperwork to be completed by the end of next week.

However, Mr Booth will remain in charge until then, though he told Chad on Friday he would 'obviously consult' with the consortium about any major decisions.

And when asked by Chad on Thursday evening if there was any way that the deal would not go ahead, he replied: "No. The deal has been done.

"The deal is basically the one that Keith had already agreed to, but a few of the legals have been made simpler in terms of the minority shareholders.

"But because of the Easter holidays and the involvement of lawyers, I cannot see that we will complete before the end of next at the earliest."

So, unlike the protracted and ultimately flawed takeover last autumn, this time the deal will go ahead - with the consortium buying the football club and renting the Field Mill ground from Mr Haslam, with a hope that they can buy the stadium in the future.

Mr Derry told the supporters: "We have thrashed out a workable deal. To all intents and purposes Keith Haslam has disappeared from this football club.

"This is a new dawn, a new era."

• We will say more on takeover once we own Stags

And he immediately reaffirmed the news released earlier in the meeting that the first home match under his leadership - Wrexham on 1st April - would be just £10 admission - £5 for those producing a voucher from this Saturday's match against Grimsby.

• Fans discount for Wrexham game

The £5 match pledge - confirmed by current chief executive Stephen Booth - was something the chairman had always promised once he took charge.

The consortium also called on fans to return to Field Mill now that controversial owner Keith Haslam is on his way out after almost 15 years in charge of the Stags.

And it was stressed that any money now coming into the club would go straight to the new owners - who would reinvest it in the team and the club.

Mr Derry said: "I am hoping for a bumper gate now at the next two matches.

"We obviously need to improve the income levels at the club. It is no secret that rhe club is losing £250,000 a year - the commercial activity at the club is down to ridicuolous levels.

"We are making just £100,000 at the moment - Lincoln does £600,000. So we will improve this.

"I know a lot of people are sceptical about me, but there are two Mansfield Town fans through and through now in the consortium. If they are not sceptical then you must not be."

Earlier in the meeting shirt sponsor Andy Sutton was unveiled as the latest local businessman to join Mr Derry's consortium.

Mr Sutton - who owns Mansfield firm A. Sutton Pipelines Ltd (ASPL) - joins James Derry and another Mansfield businessman, Steve Hymas, in the bid team.

• Second Mansfield businessman named in Stags takeover consortium

Mr Hymas, from Hymas Homes, said in a passionate speech: "We want to bring in as many people as possible. We are not greedy, we are not in this to make money or take money out of the club at all.

"We want to make Field Mill a place where people can enjoy themselves.

"But we are ambitious. If we can stay up, we don't want to be satisfied with 17th or 18th place, we want to push the club forward."

Mr Hymas, who said that the group had pushed for money to be made available now for new players (two players were signed on Thursday) added: "Any money coming in will go on improving the team and the club. We want people to be proud to support Mansfield."

The news comes just a week after the consortium appealed for urgent financial backing of around £250,000 to complete the buyout - which has collapsed twice in recent weeks due to backers pulling out at the last minute.

• VIDEO: Derry agrees Stags takeover if backers come in

But with Mr Sutton joining the consortium following that appeal - and a possible fourth partner in discussions - the Derry group now has the finances in place to complete the takeover. And the group has not ruled out further backers joining them.

The consortium also hope that fans groups may invest money into the running of the club, in return for a place on the board of directors.

The consortium has invested around £0.5m working capital into the club, a condition demanded by Mr Haslam before he would agree to a sale.

They will form a new company, probably to be called Stags 2008, to buy Mr Haslam's majority shareholding in Mansfield Town Football Club Ltd for just £1 - as Mr Haslam did back in 1993.

But there the similiarity with that deal ends.

The new owners will be taking over the club with a zero bank balance -no debts, but 'no cash in the bank' or major assets other than the players.

And Field Mill will be owned by Mr Haslam, probably through his company Stags Ltd, which will charge an annual rent over a 10-year lease (reduced if the club is relegated) - offering an option to buy the stadium at an agreed price.

Financial details of the sale have not been made public, but it is thought that the former training area at Field Mill will not be part of the rental agreement.

It is also expected that Mr Haslam will retain the land at Beck Lane in Skegby - bought for a yet to be built training academy by Stags Ltd with a £500,000 plus loan from the football club. No details of whether the loan has been repaid or written-off have been given.

Fans will be concerned that the football club and stadium have been separated for the first time.

And they will want assurances that the lease cannot be substantially altered or withdrawn, leaving the Stags without a home.

After the meeting Mr Derry did assure Chad that minority shareholders in MTFC Ltd would be treated fairly and recompensed at a full true value following an independent valuation of Field Mill.

TEAM Mansfield, one of those shareholders, has asked for James Derry and Stephen Booth to satisfy its board about the nature of the deal and be open and transparent.

If their questions are answered satisfactorily, an open meeting could be held in Mansfield for all fans when they will be asked to donate money to the trust - leading to supporters buying shares and being given a seat on the board of directors, as confirmed by Mr Derry on Thursday.

TM has also asked for further meetings with Mr Derry and Mr Booth next week to clarify outstanding issues.

The club will be run by a properly constituted board of directors - and it is thought that Mr Derry will now be executive chairman. It has not been disclosed who will replace Stephen Booth as chief executive to take charge of the day-to-day running of the club once the sale is completed.

But Mr Hymas, a member of the Derry consortium since last summer, stressed at the fans forum that the directors of the football club would not be taking any money out of the Stags.

And he urged the fans to return straight away - pledging that all money going into the football club from now would not be going to Keith Haslam.

Protest group Stags Fans For Change (SFFC) has long campaigned for the removal of Mr Haslam from the club, but some of its members may end their boycotts and return on Saturday following the news.

An official statement from the SFFC will not be made until after the deal is finally completed.

One member said on Thursday night: "It is down to personal choice. Some will now go back, and I will particularly given our League position.

"The team needs all the support it can get at the moment."