 In 1902, majority ownership passed to the four local businessmen who invested £500 to save the club from bankruptcy, including future club president John Henry Davies.After his death in 1927, the club faced bankruptcy yet again, but was saved in December 1931 by James W. Gibson, who assumed control of the club after an investment of £2,000.Gibson promoted his son, Alan, to the board in 1948, but died three years later; the Gibson family retained ownership of the club through James' wife, Lillian, but the position of chairman passed to former player Harold Hardman.