Truro City: Club agrees deal with Football Conference

The lawyer for Truro City's administrators is confident that a deal will be done by 12:00 BST on Friday, 18 October that will secure the club's future in the Football Conference.

James Moore says a £50,000 bond wanted by the league will be in place by noon.

The money will secure the club's participation in Blue Square Bet South until the end of the season.

"The paperwork has been agreed, it's just a matter of lodging the £50,000," Moore told BBC Radio Cornwall.

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.

Had they not come up with the money the Conference would have considered expelling the club from the league.

Truro City after owner in August and left the club to fight a debt claim of £700,000.

"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.

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.

Moore has refused to divulge who the interested bidder is, but says the fact that they are ready to risk £50,000 shows they are serious about buying the club.

"The bidder would prefer to concentrate on the deal rather than having lots of attention surrounding them so they can focus on getting this deal done," he continued.

"If the bond is lodged then we're moving towards streamlining the process and looking towards a sale and a process to come out of administration."

The potential new buyer is still in negotiations over the lease for the club's Treyew Road ground and has not finalised negotiations with all of the club's creditors, but Moore expects that to be done in due course.

"There are terms in principal that have been agreed. There are some details around the edges but the core part of that has been reached," Moore said of the deal over the ground.

"The majority of creditors have been dealt with, although there are some still outstanding creditors that need to be dealt with."

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."