Truro City: Football Conference set takeover deadline
Truro City have been set a deadline by the Football Conference of Thursday, 11 October to agree a sale or face being expelled from Blue Square Bet South.
City are currently in administration with players set to leave after Tuesday's match with Bath City.
The Conference has asked the administrators for a bond to compensate any clubs who have had to travel to Truro should they be expelled.
But the administrators do not have any money at present to pay the bond.
Truro City financial timeline
- September 2011 - Truro face winding-up order for unpaid taxes
- June 2012 - High Court told debts total more than £700,000
- August 2012 - Truro player threaten to quit after not getting wages
- August 2012 - Owner Kevin Heaney declared bankrupt
- August 2012 - Truro enter administration
- September 2012 - Players set 2 October deadline and Football Conference sets one for nine days later for takeover
"The Conference have concerns for clubs travelling to Treyew Road and incurring costs of travel with no guarantee that the club will be able to satisfy its fixtures and complete the season," James Moore, the lawyer for Truro's administrators, told BBC Radio Cornwall.
"If the fixtures are expunged the visiting clubs will have effectively wasted the cost of that travel.
"The Conference has set a deadline of 11 October by which they have gained comfort or seen a sale agreed so they see a reduced risk that the clubs travelling to Treyew Road will be risking any wasted costs.
"The administrators don't have the money, so a buyer is needed," Moore added.
But he says the Conference could extend that deadline should there be evidence that a sale could happen.
"If we had a buyer in place that could put a robust business plan to the Conference and satisfy them that the club would be able to complete the season, then there would be some flexibility on that," he said.
However it seems increasingly unlikely that the playing squad will agree to stay on at the club after Tuesday if there are no major developments by then.
A senior source at the club has told the BBC that they still intend to walk away after the game with Bath City unless a buyer is found.