The big spending days at Truro City which took them to five promotions in six seasons and a FA Vase win at Wembley look set to be a thing of the past as the club battles to come out of administration.
The club have announced a new date for their Company Voluntary Arrangement (CVA) application on June 4 and chairman Pete Masters said that they would be talking to creditors until then in a bid to ensure a successful outcome and enable the club to come out of administration.
Until the situation is clearer and then depending at what happens at the Conference annual meeting four days later, City will not even know at what level they will be playing at after finishing bottom of Blue Square Bet South.
They could even drop down three levels to the Western League if their financial situation is not resolved satisfactorily.
Head of Football Development Steve Massey has been sounding out a number of players about coming to Treyew Road but with the uncertainity nothing has been finalised.
In his statement about the situation today Masters said: "Supporters will, I am sure understand, that debts incurred by the previous regime during their promotion drive at that time to reach the Conference South League will have to be addressed through the CVA process to make us eligible to enter the Southern Premier League.
“It will therefore come as no surprise that given the level of debt at the point of Administration, part of which can be attributed to management and players’ salaries, difficult decisions had to be made.
“With this at least we can talk to the remaining creditors who have in some cases lost in excess of 18k to ensure them that the errors of the previous regime have been corrected and this situation will never be repeated.
“This of course is no consolation to all of us that Truro City Football Club has lost the Freehold title of its Football Stadium at Treyew Road in circumstances what again appeared to have been its quest for success on the pitch at any cost.
“To put it bluntly, it would be immoral if we were to ask a Creditor on one hand to write off 18k and on the other offer new contracts to management and players at last season’s unsustainable levels.
“There is a comparison to be drawn however unpleasant it may be. A further review of the CVA will be undertaken before the meeting following the outcome of discussions with the remaining creditors.”
So City’s long suffering supporters face an anxious wait as to what happens next, but there are sure to be more twists and turns at a club which is never far from the headlines.
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