Published 14th July 2011
The club is putting in place plans to pay its tax debts in full. At a meeting held on Monday 11th July, budgets were presented to the committee which clearly illustrated that there would be no budget available to pay salaries to either players, coaches or the football manager.
The decision was made to operate as an amateur football club for the forthcoming football season in order to secure the long-term survival of the club.
Investors were informed of the news at a meeting held on Tuesday night - none of the investors that attended the meeting withdrew their support for the share sale scheme.
Any shortfall in funds needed to pay the remainder of the tax bill will come from surplus funds generated by the social club, sponsorship, gate receipts and other events that would have otherwise generated the football budget.
Manager Tommy Brookbank’s and his team are being given time to consider their position and to talk to the squad they have assembled during the closed season with a decision expected from them by today as to whether or not they feel they are able to continue in their roles.