Truro City Football Club have been handed a last minute reprieve after an investor deposited a bond of £50,000 with the Football Conference to maintain the club's membership of the league. The bond was paid into the Conference's bank account just minutes before a 5pm deadline this evening.
Truro's game at Eastleigh tomorrow has been postponed, but the financially-troubled club, which is in administration, could now survive. The Football Conference will make a more detailed statement on Truro's situation on Monday.
Truro City Football Club has missed their noon deadine to stay in the Football Conference.
Administrators for the debt ridden club were on the verge of agreeing a deal with a new purchaser who was expected to put forward the £50,000 needed for the club to stay in the league.
But this morning that purchaser pulled out. The Football Conference board will meet this afternoon to decide the club's future.
Truro City Football Club have missed their noon deadine to stay in the Football Conference.Read the full story ›
The Football Conference has announced that it is satisfied that, by noon tomorrow (Friday), it will have all that is required to keep Truro City in the league.
A new investor has come forward for the troubled side and Dennis Strudwick from the Football Conference told The West Country Tonight that all the league's requirements will be met by then. He said he was just waiting for "the is to be dotted and the ts crossed"
The club, which went into administration at the end of August, had until 5pm tonight to prove its worth.
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.