The shares have been snapped up by clothing maker Pentland Group in a move that values the company at £99.8m.
Wardle reluctantly stepped in as City chairman following the departure of David Bernstein more than 2 years ago, with he and Makin providing the club with substantial loans.
Although Wardle and Makin will resign from the board, Pentland said it wanted all the remaining directors to stay with the Bury-based group.
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