David Walters has taken control of Hastings United after buying out majority shareholder Mick Maplesden.

Maplesden sold his 75 per cent share of the club to Walters on Friday.

Walters immediately quit as manager of East Sussex League premier division side Punnetts Town to concentrate on his new role at Hastings.

United are currently struggling near the bottom of the table and their 1-0 defeat at Banbury was their sixth in eight games.

However, club secretary Tony Cozens does not believe manager Steve Lovell's job is in immediate danger.

Cozens said: "I think things will carry on much as they are now until the end of the season.

"Mick had been at the club for four or five years and he just felt it was time for someone else to have a go."

Lovell described the goal which condemned Hastings to their latest defeat as "lucky".

United had a number of chances to score, Jimmy Elford hitting a post with a header in the first half, before Banbury substitute Mark Sims scored the winner on 70 minutes with an overhead bicycle kick which went in off the bar.

Defeat leaves Hastings fourth from bottom in the eastern division, but Lovell said: "Their player got lucky. If he had tried it ten times, nine would sail over the bar.

"We did very well and had so many chances to win it, so when you get beaten like that you can't be too hard on yourselves."