Crawley Town have been put up for sale as the club looks for the "substantial investment" needed to help them reach the Championship.

Chief executive Richard Low confirmed the club's owners are looking to sell their majority stake and has already met with one interested party.

Reds have enjoyed unprecedented success since the current board - formed of the late Bruce Winfield's widow Silpa, Susan and Ian Carter, Dave Pottinger and unnamed investors in Hong Kong - bought Crawley in the summer of 2010, launching Project Promotion.

On the back of massive spending, Crawley went on to win consecutive promotions as well as reaching the FA Cup fifth round two years in a row.

Money has dried up in the last 12 months, however, and a statement from the board of directors said: "The owners are extremely proud of what they have helped achieve in partnership with so many dedicated staff, loyal fans and sponsors. They now feel, however, that in terms of their own personal involvement and financial investment that they would like to begin the task of seeking new owners for by making Crawley Town FC available for sale."

Low stressed that the owners would not be pulling their funding out of the club until a new owner was found, giving him time to attract the "right" person.

He said the club had no debts and was an attractive proposition for any potential buyer interested in owning a progressive football club.

Low said: “Our owners have led this football club on a fantastic journey in the last three years and everyone associated with Crawley Town should be extremely proud to have played a part in what has been achieved so far.

“Crawley Town remain ambitious for its future. Our long-term strategy is focused on increasing our fan base, further improving the infrastructure, including the provision of new training ground facilities, and producing a young, exciting team on the pitch capable of maintaining League One football and pushing upwards into the Championship.

“They recognise that for this to happen would require further substantial funding and believe that if the club is to continue to grow on and off the field the football club should actively seek new owners and investment.

“That process is underway, I have already been approached by an interested party and I am confident that we can find new investors who share the aspirations of everyone at Crawley Town and can continue the amazing journey we have been on.

“This is not a ‘fire sale.’ The current owners are still extremely committed to the club and will not be reducing their financial support until I find new ownership. In my opinion this club is an attractive proposition. We have no debt and a strong partnership with a supportive local authority that helps support the growth of the football club.

“We have attractive assets and a management team that are very capable and ambitious while our fan base is loyal and growing by the day. I do understand that any major change can create uncertainty but I believe the future is bright and I pledge to keep everyone in the Crawley Town family fully up to date as the projected sale.”