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.