Motherwell chairman John Boyle says he thinks he leaves the club in a better shape than when he took over in 1998.
Boyle will step down this summer by handing his shareholding over to the club's supporters.
"On the field Motherwell Football Club is in good nick," said Boyle. "Off-field we are bank-debt free.
"We own the freehold of our stadium and are well positioned to meet the challenges that are facing Scottish football."
Boyle admitted that the club going into administration during his tenure was one of the darkest days he encountered and he takes his share of the blame.
"For the club going into administration, I accept some responsibility, but it was against a backdrop of a TV deal that completely went to pieces," he added.
"It was a terrible time for the club. We did what we had to do and then we started to put one brick upon another and build the club up to the solid base it is now."
At the time it was reported that 19 players were dispensed with but Boyle argues that only seven were victims of the administration, with the others being affected because their contracts were about to expire.
"There are tragedies when people are put out of work in any business," said Boyle.
"I have every sympathy for those players but we had no option. It was a tough decision, a hard decision, but it was the right decision."
Boyle sees the passing of his shareholding to the supporters as being a mini-version of Catalan giants Barcelona, who are owned by their fans.
The departing chairman also admitted that the untimely death of Phil O'Donnell was the most tragic event of his time in charge.
However, he was complimentary of the managers he employed whom he says have helped the club punch above its weight.