Alistair Bayliss says the latest takeover of Margate should be announced soon, but he's vowed the days of reckless spending are gone for good.

The Gate chairman says talks with new investors are at an advanced stage, and he expects the deal to be concluded within the next fortnight.

He admits there has been a whirlwind of activity since Nikki Bull's resignation as boss last Thursday - to be replaced by Steve Watt the following day - but Mr Bayliss says once the dust has settled he is confident the club can move forward.

He explained: "This week happened (with the managerial changes) and we needed to get that out of the way but we will be making an announcement soon (about the takeover) and we can then kick on.

"Once the takeover has been completed we can sit down and talk about what financial element will be available to the club.

"It's not going to be huge though, the new people who are coming in are not just going to throw x thousand pounds at it, that's not going to happen.

"We have to make sure that there is an infrastructure in place, because there's never been an infrastructure here.

"It's very difficult in a couple of months to turn so many things around but we've started to do things and now we're starting to bring more people in things will start happening a lot quicker but we will never go back to the bad old days.

"We will never go back to the old culture where we throw hundreds and thousands of pounds away, that's why I left the club the first time round, I could not live like that, I don't think it's right morally,and that's why I left.

"I don't think it's fair on the people who love this club, the supporters who put their money in week in week out."

Mr Bayliss says he will be staying on at Hartsdown once the new regime comes in but admitted the last few months had been 'unbelievably tough.'

He added: "If I'm honest I have not enjoyed it, the last two or three months, it's probably been the hardest and most emotional three months I've had."