Truro City Reserves FC Versus Porthleven FC

Right, what a day and finally got a bit of my breathe back. Thank you so much to both owners of A2B and L2.

Lets now celebrate in all things Truro City FC. Please come on down to Treyew Road tomorrow (Saturday 20th October 2012) and celebrate like we know best and show your support. We are ALL Truro City. Let's show it.

T - R- U- R- O     T - R - U - R - O     WE ARE SUPER TRURO.

Football Conference expects deal by Friday

Source BBC Sport 18.11pm 18th Oct. BBC Link

The Football Conference expects a deal to ensure Truro City's future in the Blue Square Bet South to be completed by 12:00 BST on Friday.

Financially-stricken City have been asked to pay a £50,000 bond to the Football Conference as negotiations continue for a takeover.

"I think everything is going over the line," Conference general manager Dennis Strudwick told BBC South West.

He confirmed that Truro businessman Tony Murtagh is involved in the deal.

"I hope that everything we need to complete it will be done by noon tomorrow," Strudwick added.

The lawyer representing Truro's administrators, James Moore, told BBC Radio Cornwall: "We have managed to agree a bond document by noon tomorrow (Friday) with the Football Conference."

Murtagh, who owns the Truro-based Money Group, is a director of a company which changed its name to Truro City Football Club 2012 Limited on Thursday according to Companies House.

"There are still issues to do with the lease on the ground and purchasing the club, and they've got a lot to do, as have us, but we're satisfied that the bond will be in place by noon," Strudwick said.

City did have until 17:00 BST on Thursday to come up with the money to cover costs of clubs coming to Treyew Road should they go bust and their results are expunged.

If they cannot come to an agreement it is likely that they will be expelled from the Blue Square Bet South.

City entered administration after owner Kevin Heaney went bankrupt in August and players have said they will not stay at the club if new owners are connected with the previous owners of the club.

Administrators have refused to divulge who the parties bidding for the club are, but have confirmed that there are two bids and that they have a preferred bidder.

Earlier on Thursday captain Jake Ash told BBC Radio Cornwall that the squad would leave if anyone connected with the old owners took control at Treyew Road.

"If one of those bidders is the previous regime or the previous chairman then, as a group of players, we wouldn't be able to stick around," he said.

"We've had so many problems with payments in the past that it would just feel like it would be the same problems would keep resurfacing and we've made it clear to the administrators.

"We're just hopeful that the preferred bidder is someone who is positive and wants to take the club forward in the right way."

*******

In the meantime, The Fans Trust has tweeted that "having initially approached Tony, the Trust continue to give our full backing to him".  Stewart Yetton was also "100% behind the bid of Tony Murtagh".  All good news of course and lets hope that all goes well tomorrow morning.

"I blame the banks" - Heaney

Source WMN LINK

FORMER Truro City FC chairman Kevin Heaney this week told the West Briton, from a train station, he was still living in Cornwall, after not being heard from since being declared bankrupt.

Regarding news the club was on the brink of being expelled from the Football Conference he said: "I was absolutely heartbroken and didn't sleep a wink all night."

He insisted difficulty obtaining finance from banks was the cause of the situation. He claimed: "I never failed because of me – I failed because of the banks."

Mr Heaney said the struggle to find a purchaser proved what an exacting task it is to run a football club.

"I hope Truro City does survive but we are in very difficult times. I hope a buyer comes forward because it can still be a fantastic club with the right investment."

City Alerts - Lee's view

From Lee Hodges today: 

"Delighted to report that we had a good training session on Tuesday evening and that no more players have left the club since the events of last week.  We are all greatly encouraged by the news that there is a 'preferred bidder' working with the administrators and we are now all keeping our fingers crossed that there will be further encouraging news after tonight's 5 pm deadline from the Conference League.

"I had a good chat with all the boys during and after Tuesday's training session and to a man the mood was that they wanted to stay with the club if they get the chance and always provided of course that a new owner has absolutely no connection with the previous regime.

"The players have demonstrated amazing loyalty in the face of so much uncertainty, such a long time without being paid, and with so many tempting offers coming in from other clubs.  And the support from all the fans, from near and far, and from other clubs in the League has been absolutely phenomenal, and we will all be eternally grateful for that.

"Everyone is hoping and praying that we can make a fresh start now and get the club back on track.  The training session was a really good one, and nobody wants to see Truro City fold or to leave the club if at all possible.  But I'm bound to say that it was also made very clear - as I'm sure is well known anyway - that if it emerges that a prospective new owner has any connection whatsoever with the old regime, then we will all be walking and seeking a fresh start elsewhere."

Mike Truscott, Editor, City Alerts

Truro City have "preferred" bidder for takeover

Source:  BBC Sport BBC Sport

The lawyer for Truro City's administrators says there is a preferred bidder for the financially-stricken club that could put down a £50,000 bond to secure its future.

James Moore told BBC Radio Cornwall there were two bidders hoping to take over the Blue Square Bet South club.

The Football Conference wants the bond in place by 1700 BST on Thursday or Truro face expulsion from the league.

"We have two interested parties but have one preferred bidder," Moore said.

"They're at a position where the bond could be satisfied by the deadline.

"No buyer is going to put down £50,000 if they aren't comfortable that they're going to be able to acquire the the club and trade it going forward," continued Moore, from lawyers Walker Morris.

Should Truro fold and their results be expunged, the bond would cover the travel costs of clubs who had already played them.

But any deal is subject to the bidders being able to reach an agreement with the club's creditors and secure a long-term lease at Truro's Treyew Road ground.

 

Moore said they would be "working flat out" during Wednesday and Thursday to try and ensure the purchaser was comfortable enough to formalise the bond.

"It's definitely more promising than last Thursday, but I don't want to put anyone under any illusions, these are two big obstacles.

"There has been a lot of progress made, but there's a lot that needs to be done," he continued.

"The position we're in now is much better than we were in last week, but it's still a long way before we're able to put the bond down and have a sale to go through."

Truro have been in administration since August after owner Kevin Heaney went bankrupt and left the club to fight a debt claim of £700,000.

They were initially told they had to pay their bond to the Football Conference by Thursday 11 October, but were given an extra week to find the money.

But even if the bond is paid by the bidder, it may be some time before the sale actually goes through.
"If that bond were put down, it doesn't mean a sale's completed," Moore added.

"It means the purchaser is satisfied that the main outstanding issues for a sale to complete have been largely dealt with to give them comfort to put £50,000 at risk and have the confidence to complete a sale in the near future."

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 players 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
• September 2012 - Football Conference set 11 October deadline for takeover
• 3 October 2012 - Players agree to stay on until 11 October
• 11 October 2012 - Deadline to save the club passes with no deal
• 12 October 2012 - City given extension until 18 October
• 17 October 2012 - Lawyers say there is a preferred bidder for the club

Lee praises squad as wait continues

Source:  BBC Sport Link here > BBC Sport

Truro City boss Lee Hodges has praised his squad as the club wait to see if they will be saved from liquidation.

City have been given until 17:00 BST on Thursday to pay a £50,000 bond to the Conference to cover the costs of clubs visiting Truro should they go bust.

The club had their first training session for six weeks on Tuesday.

"One or two have been phoning me saying they've been speaking to clubs and I've asked them to give me a couple more days," Hodges told BBC Radio Cornwall. 

"That's a testament to what a fantastic bunch they are and if someone was to take it on they've got a great bunch of lads here.

"If not, whoever they go on to play for, they're getting some really good players."

And Hodges says he has been overwhelmed by the gestures of goodwill that the club have seen over the past few weeks as their plight has become more desperate.

Fellow Blue Square Bet South side Eastleigh, who Truro are scheduled to face on Saturday, have offered to donate their gate receipts while fans of Scottish giants Rangers have also donated money.

"It's absolutely amazing," Hodges said.

"When you see these teams doing this for us, on behalf of everyone at Truro City, I want to say thank you very much.

"It's unbelievable scenes to be seeing all this at the moment."

Truro are in administration after owner Kevin Heaney went bankrupt and left the club to fight a debt claim of £700,000.

They were initially told they had to pay their bond to the Football Conference by Thursday 11 October, but were given an extra week to find the money.