Plymouth Albion get two more weeks to avoid administration
Plymouth Albion have been given more time to find new backers in their bid to avoid
The club issued a second notice of intention to appoint an administrator on Friday, giving them two weeks to find the cash they need to stay afloat.
Albion need a minimum of £250,000 in order to see them through until the end of the season.
Should they go into administration they will be docked 20 points, effectively relegating them from the Championship.
"The board of Plymouth Albion Rugby Football Club Limited together with their professional advisors are continuing to work hard to secure the long-term future of Albion," said a club statement.
|Albion's financial troubles|
|April 2010: Club launches an appeal to raise £100,000 to avoid the need to go into administration|
|January 2012: Albion after they part with head coach Pete Drewett as they|
|January 2015: Albion announce intention to appoint an administrator unless they can find £250,000 to keep them solvent until the end of the season|
"Positive negotiations continue, but to enable them to reach their conclusion, it has been necessary today for the board to file a second notice of intention to appoint an administrator. This now provides a moratorium for a further 10 business days.
"These negotiations are confidential and the board asks that this confidentiality is respected. In the meantime the board is immensely appreciative of the overwhelming support received from the people of Plymouth and further afield."
On Monday, the club said they were having won their first league game since March on Saturday against Moseley.
The club currently gets £380,000 per year in central funding from the Rugby Football Union, a sum which