Scarborough Football Club are set to fold after failing to adhere to the terms of their CVA.
The CVA administrator, Rob Sadler of accountants Begbies Traynor, will cease the CVA agreement on April 13th (Friday) after deadlock continued over the sale of their McCain Stadium to cover their debts. He will petition the courts for a compulsory winding up order which will see Scarborough FC fold after eight years of financial difficulties following their relegation from the Football League.
The club had pinned their survival on the £4million sale of the stadium for redevelopment, clearing a £2million debt and building a new stadium with the surplus on cheaper land on the outskirts of the town, however the council refused to lift a covenant on the ground blocking the sale.
The club were the first Conference side to gain automatic promotion to the league in 1987 after rule changes eliminated the re-election issue. They remained a league club for 12 years, reaching the play-offs twice but never progressing beyond the fourth tier. Their 1999 relegation was the first in the club's history, when a goal from Carlisle goalkeeper Jimmy Glass sent them down with practically the last kick of the season, but they suffered a second drop last summer when they were forced out of the Conference after falling into Adminstration for a third time in seven years.
The two remaining board members at the club have promised to see the side fulfill the remaining fixtures for this season, but the existing club will not enter competition next season.