Source West Briton.
TRURO City Football Club (TCFC) is facing a brutal battle for survival amid financial chaos.
The club has had "the noose lifted from its neck" but will automatically have ten points deducted following a decision to go into administration – its "only option" according to the firm brought in to sort out the mess.
Administrators will now try to keep it in good enough condition to attract a buyer.
Mystery surrounds recent activity at TCFC and an investigation will be launched into July's sale of the Treyew Road ground for £2.28 million. A winding up order in the High Court from Her Majesty's Revenue and Customs (HMRC) on Monday would have ended the club but this was adjourned for 14 days following the issue of the administration application.
Administrators say it is now unlikely to be heard.
Kate Breese, of Walsh Taylor, has been appointed administrator and told the West Briton: "Despite the immediate ten-point deduction, the fans should see this as a positive step as it was the only option for the directors in order to prevent the club from being wound up and forced to re-form well down the leagues.
"Although far from secure, the club is in a much less precarious state than a few days ago.
"The club will have a breathing space to regroup, reorganise and hopefully find a new buyer that will be able to buy the club in compliance with the Football Conference Rules and maintain its position in the Football Conference."
Under the patronage of property developer Kevin Heaney the club was promoted a record-breaking five times in six seasons and won the FA Vase at Wembley.
Ms Breese insisted the club remained "a very attractive proposition" and appealed to investors to get in touch.
"The noose has been lifted from the club's neck, it now just needs a person or persons to carry it to safety," she said.
Mr Heaney resigned as chairman citing "illness" on August 24, the day he was declared bankrupt at Truro County Court.
Dennis Strudwick, manager of the Football Conference said he was "extremely saddened" on hearing the club was going into administration.