Albion chairman Dick Knight has confirmed he will buy predecessor Bill Archer's shares in the club, as we exclusively revealed yesterday.

The news of the imminent departure of the man reviled by Albion fans for selling the Goldstone Ground was met with joy by supporters, as Steve Rogers discovered.

LEGENDS of Robin Hood, perhaps the world's most famous archer, have been retold through folklore for centuries.

In the eyes of Albion fans, another Archer's name will never be forgotten.

Whereas Robin Hood was loved by the masses and a crack shot with a bow and arrow, Bill Archer is loathed by Seagulls fans and simply makes them quiver.

Albion followers have never forgiven Mr Archer for selling their beloved Goldstone for a giveaway price without finding a suitable alternative location.

After two seasons playing games in Gillingham, the club found a temporary home at Withdean and is in a strong position on the pitch.

But despite Mr Archer not being seen at the club for several years, his legacy and enduring background presence has cast a shadow over the team's on-field success.

Now fans are hoping a Knight in shining armour will oversee the club's move to its Camelot, Falmer.

Dick Knight and a band of merry men, including DJ Norman Cook and City businessman Billy Brown, have agreed a deal to buy Mr Archer's shares in the club for a knock-down fee.

The Argus revealed meetings had been held between Mr Knight's and Mr Archer's legal teams with the latter confirming he would sell his £1.4 million holding for a £700,000.

Seagulls fans were last night crowing at the news. Tim Carder, chairman of the supporters' club, said: "This move will be welcomed by every Albion fan.

"Bill Archer appears to have done very well with his other businesses but he was a disaster for the Albion as far as we are concerned.

"Although he invested just £56.25 in the club prior to 1997, Archer did put £1.3 million into the Albion when the deal for control of the club was concluded. The board negotiating the return of his shares for £700,000 is excellent business.

"But, more importantly, this move makes the final break with the past. It's time to look forward, to a second promotion, we hope, and to a new stadium at Falmer.

"The fact that so many local businessmen are prepared to put money into the club shows it is heading in the right direction."

Season ticket holder Tim Hodges, 33, who works in the reinsurance world, said it would be "fantastic" to get Billy Brown on to the Albion's board of directors.

Mr Hodges, who lives in Preston Circus, said: "Buying Archer's shares would be a good move and I'd like to see it done before we sell Bobby Zamora."

Fan and unofficial club poet John Baine, alias Atilla the Stockbroker, welcomed the news. He said: "Archer must go before the club moves forward to Falmer.

"He shouldn't receive a penny after what he did to the club. The boycott of Focus continues."

Tony Packer, 24, of Hove, said: "It's fantastic news. It would bring more stability to the club. Dick Knight wants to bring in people he knows and trusts."

Tim Colville, an official club photographer, said anyone putting up the money to buy out Archer would almost be held in "sainthood" by Albion fans.

Roz South, from Firle, a season ticket holder at Withdean, said: "It's high time to unload any baggage from those bad old days.

"Dick Knight's commitment to the club has gone a long way to dispel what had, sadly, become an automatic distrust of the board."

Eddie McWatt, 33, from Crowborough, said: "The difference between Archer and myself is that I love my club. He may be worth millions but I have in my heart something he will never have and can never buy."

Former season ticket holder Simeon Ayling, from Wimbledon, said: "Fans of this football club will agree with me in hoping his Focus DIY flotation works out.

"It is a comforting thought that if a piffly £300 million was generated, it would go some way towards him recouping the enormous outlay of over £56 that he pumped into this club."

Our revelations prompted the club to issue a statement corroborating our exclusive story.

Mr Knight said: "The success of the club and the real progress being made towards our new stadium at Falmer has given us an opportunity to close a chapter in the history of our club.

"In accepting my offer of half his legal entitlement in the club, Bill Archer has made a generous gesture which we are happy to accept.

"We have the funds to purchase the shares and we are proceeding to complete the transaction as soon as possible."

He confirmed a group of businessmen approached the club about providing finance although this option had not been pursued.

Mr Knight said: "The willingness of local business people to help the Albion is appreciated."

The club's chief executive, Martin Perry, said: "We are just reaching the legal agreement necessary to complete."

Other parties involved with the talks, including director Derek Chapman and businessman Robbie Raggio, remained tight-lipped yesterday.

The Argus learnt Mr Archer was keen to sell to avoid negative publicity as he prepares to float the Focus DIY chain, of which he is chairman. His holding is thought to be worth £300 million.

Mr Archer refused to comment.