Today marks the final deadline for Truro City Football Club.
Administrators are in talks with potential buyers but the club's extension to stay in the football conference league ends at 5 o'clock.
The club went into administration at the end of August.
Truro City Football Club has been given an extra week to try to prevent itself from being kicked out of the Football Conference.
The team was facing liquidation after talks between the club's administrators and the League broke down last night.
The club had until 6pm last night to come up with a £50,000 bond to enable them to stay in the Football Conference.
The club's administrators Walsh Taylor couldn't stretch to that figure and instead proposed a rescue package of a £10,000 bond to see the club through until a new buyer was confirmed.
The Football Conference board then rejected that offer.
The administrators appealed the decision and this afternoon the Football Conference League board agreed the club could have an extra 7 days to come up with the finances.
The Board has received encouraging information about a potential buyer of the Club. This opportunity did not come to light until Wednesday evening so it was not possible for the Administrator to complete a purchase before close of business on Thursday.
This afternoon the board granted the Club seven further days, until 5.00pm on Thursday 18 October, to meet its requirements and complete a sale.
If the Club fails to meet this deadline, the Board will be obliged to consider the Club’s further participation in the Competition.
Truro City Football Club faces being suspended from the Football Conference league and liquidation.Read the full story ›
Truro City Football Club have been given until today to agree a sale or face being expelled from the Blue Square Bet South division.
The side went into administration in August. The Football Conference could extend the deadline if there is evidence that a buyer has been found.
Players at beleaguered Truro City say they're prepared to stay at the club - until next week's takeover deadline, despite not being paid. There had been speculation the entire squad would walk out after last night's game against Bath City.
But the players have agreed to stay on for the time being, hoping a buyer can be found. If no-one comes forward, it could mean last night's match was the final one in the club's history.
Truro City Captain Jake Ash says he's hopeful the Club will be saved.
The future of Truro City Football Club has been put on hold at London's High Court for two weeks.Read the full story ›
The future of Truro City Football Club has been put on hold at London's High Court for two more weeks.
There were fears that the club could've been wound up this morning over unpaid tax debts. But the court heard that the club is preparing an imminent application to go into administration.
Truro City could face a winding up order in court today.
The football club went into administration on Friday and has been in disarray in recent months over repeated court appearances, unpaid wages and uncertainty over who is in charge.
It's been announced that Truro City is to enter administration.
It follows weeks of uncertainty for the side, court appearances over debts and unpaid wages. Behind the scenes moves were made to find a way of rescuing the cash-strapped club after its meteoric rise.
Due to the club's continuing financial difficulties, it has been reluctantly decided that we have been left with no option but to place the club in administration, and I confirm that this process is to begin immediately.
After their training session and meeting last night, the first team players informed us that unless the club took this course of action they would not turn out for the Boreham match tomorrow, in view of the non-payment of their wages for August and the continuing uncertainty over the club's future funding.
The move means that the club will automatically be deducted ten points as soon as an administrator is appointed.
Saturday's home match against Boreham Wood is expected to go ahead.
Our clear understanding at present is that arrangements which were agreed earlier for funding to cover the players' wages through to at least September 15 no longer hold good.
Obviously, this is an extremely difficult time for the club, but I can assure everyone concerned - players, supporters and staff - that I and my colleagues are working tirelessly to ensure that every possible effort is being made towards securing the survival and long-term success of the club.