The rollercoaster adventure of Truro City Football Club continued today with a stay of execution.
The Football Conference was fully expected to formally expel the club at a board meeting this afternoon.
But in a surprise move the board voted to give Truro City one more week to come up with a £50,000 bond necessary to keep the club in the league.
Walsh Taylor, the administrators brought in to run Truro City, said last night that the rescue plan had failed and expected the club to be thrown out of the league
The administrators originally had until 5pm yesterday to provide the £50,000 bond.
They could not raise the money and instead proposed a bond of £10,000 from Cornwall Council that would see the club through the weekend with a potential buyer guaranteeing payment of the players' wages.
The board meeting this afternoon was thought to be a formality but the Football Conference released a statement which said: "In respect of Truro City FC's membership of the competition, the Board has received encouraging information from the administrator 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. At an emergency board meeting held on Friday afternoon the directors expressed their hope for this latest development and granted the Club, through the administrator, seven further days, until 5pm 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."
Administrators will now be working with the potential purchaser to put a full rescue package together.
The deal came too late to save Saturday's match against Dover Athletic which remains cancelled.
The Football Conference was fully expected to formally expel the club at a board meeting this afternoon.
But in a surprise move the board voted to give Truro City one more week to come up with a £50,000 bond necessary to keep the club in the league.
Walsh Taylor, the administrators brought in to run Truro City, said last night that the rescue plan had failed and expected the club to be thrown out of the league
The administrators originally had until 5pm yesterday to provide the £50,000 bond.
They could not raise the money and instead proposed a bond of £10,000 from Cornwall Council that would see the club through the weekend with a potential buyer guaranteeing payment of the players' wages.
The board meeting this afternoon was thought to be a formality but the Football Conference released a statement which said: "In respect of Truro City FC's membership of the competition, the Board has received encouraging information from the administrator 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. At an emergency board meeting held on Friday afternoon the directors expressed their hope for this latest development and granted the Club, through the administrator, seven further days, until 5pm 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."
Administrators will now be working with the potential purchaser to put a full rescue package together.
The deal came too late to save Saturday's match against Dover Athletic which remains cancelled.