LONG-SUFFERING Kettering Town fans have expressed sympathy for businesses owed money by the club after it was thrown out of the Football Conference.
Suppliers will get just 10p back for every pound owed as Kettering Town Football Club moves down to the Evo-Stik Southern League Premier Division next season.
Simon Richardson, who has been a fan for more than 30 years, said: “This is not a proud moment for a football club.”
At a hastily arranged meeting at Nene Park on Wednesday evening fans heard the club will start with a 10-point deduction as it enters a Company Voluntary Arrangement (CVA) to clear its £1.2 million debts.
New owner George Rolls said all current and previous directors have agreed to write off their loans, leaving the Poppies with £402,000 to clear – a figure that will be dealt with by a CVA over three years.
Mr Rolls, who has sole control of the club, said creditors – including local suppliers – may have to waive up to 90 per cent of money owed as part of the CVA, which is set to be confirmed on June 7.
Kettering Town Supporters Trust chairman Mark Severn said: “The supporters really feel for the suppliers affected.
“I feel desperately bad for all the people suffering but if it had been liquidated they would lose everything. This way they will receive something and the club can move forward.”
Season ticket holder Giordano Salvi, 52, who has followed the club for more than 40 years, said: “This time last year we were looking forward to a new season and promotion.
“When was the last time we were in the third tier of non-league football? How can Nene Park work out in this league.”
Match day admission prices will drop to £12 for adults and £10 for concessions next season.