KIDDERMINSTER Harriers have resolved a long-running financial dispute with former chairman Dave Reynolds.

Current chairman Lionel Newton has paid out a six-figure sum to repay loans made by Reynolds to the Aggborough club.

Board members have bought Reynolds' and his family's shares for a five-figure sum as part of the settlement.

Reynolds resigned after 18 years as chairman at Aggborough in December 1998, having helped set the club on its way to League football and being at the helm when they won the Conference in 1994.

There then followed three years of wrangling for the repayment of £212,563 he had loaned to the club.

"I am delighted to have resolved this matter once and for all. We can now, as a club, move forward," said Newton.

Reynolds added: "I stand by my 18-year record at the club and am proud of my achievement.

"Most years we made a profit or broke even and any losses were more than eradicated by the Lee Hughes transfer deal.

"I'm a fair and practical man and I'm glad that common sense has prevailed and everyone can get on with their lives."