1. ITV Report

Lowestoft Town chairman resigns as 'critical' financial crisis deepens at non-league club

Lowestoft reached the FA Vase final in 2008. Credit: ITV News Anglia

The chairman of cash-strapped non-league side Lowestoft Town has stood down as more details continue to emerge about the financial crisis facing the club.

The Trawler Boys, who reached the final of the FA Vase 10 years ago, are in severe financial trouble and staff and players haven't been paid since December.

The club's directors say that falling attendances and a hefty wage bill mean that the financial situation has "become near critical" and "money is running out."

In a further twist, chairman Alan Green has now resigned from his role - saying the pressure of trying to keep the club afloat has had "a huge detrimental effect on his health."

"It is with great sadness that I am today stepping down as chairman of Lowestoft Town Football Club with immediate affect," he said in a statement.

"I was honoured when I was nominated for the post and truly felt that I could assist in taking the club forward. However, circumstances have proven very difficult and this has had a huge detrimental effect on my health and well-being and in hindsight to take on such a monumental task at my time of life was perhaps not one of my better decisions.

"I know I had and still have the support of the board and many of the fans but I have come to this decision for two reasons. Firstly, I haven’t got the energy due to my health to continue to push forward in this important role and secondly, this would make way for perhaps a more dynamic person who could invest in the club and carry it to where it deserves to be."

Lowestoft are currently in the midst of a relegation battle in the Isthmian League Premier Division - despite having only dropped out of the National League North two years ago.