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Plymouth's Administrator is to offer creditors just 0.77p in every pound to take the club into a CVA.
Any winning bidder would pay just £100,000 to wipe out £13million of debt. The full CVA document has been passed to creditors and a vote will take place on May 6th. The club has total debts of £17.7million, some of which is secured on the ground or are footballing debts that must be paid in full.
Amongst the footballing debts are nearly £3million due to the players, and nearly £500,000 to the office staff. A number of football clubs are also listed, with a debt to Swindon Town noted as being £0.04p in amongst £56,000 owed to other League sides.
Meanwhile Eastwood Town's owners have put the club up for sale after losing their appeal against exclusion from the Conf North play-offs. They say they will sell the club for £1 with no debts after 'irreconcilable differences' emerged between the owners, the Conference, and the local council over their attempts to improve the ground and gain promotion.
In a club statement they say they were given just two days to seek planning permission for a new grandstand as their current seating is spread over too many stands for the Conference's liking, and that the local council had upped their charges unreasonably including charging £50,000 to connect new toilet blocks to the local sewerage system.