Corby Town players and management take voluntary pay cuts to help Steelmen through 'challenging' period

The club have had to announce the move, with the board of directors stating they are currently having to 'absorb losses' of around £80,000 per year, and admit the Steelmen 'cannot continue in its current financial position'.

But they have also stated their commitment to doing all they can to turning the situation round, while admitting they 'are open to further support or discussions with individuals or groups who believe they can help take the club forward'.

Gary Setchell and his players are currently fighting for promotion from the Pitching-In Northern Premier League Midlands Division, and will go fourth in the table if they claim a win in Wednesday's home date with Rugby Borough.

The Steelmen finished second last season and were beaten in the play-off final, but despite the sustained onfield success, it has been revealed that the club is losing too much money, and has been unable to 'reach financial targets'.

That has been blamed on lower than expected attendances at Steel Park so far this season, as well as rising running costs - with the fact Corby have not played a home game for five weeks being far from ideal.

It has all led to the current situation, and the statement from the board of directors was released on the club's website and read: "Over recent weeks, we have worked tirelessly to maintain the same playing budget as last season.

"Unfortunately, despite our best efforts, we have not reached the financial targets required to sustain that level of spending.

"Attendances have been lower than expected, operational costs across the club have risen significantly, and despite constant efforts to bring in more volunteers, sponsors, and support, the financial gap has continued to grow.

"To help the situation, the entire squad and management team have voluntarily taken a pay cut, showing their commitment and determination to keep the team competitive.

"Their willingness to stand with the club during this challenging period reflects the unity and spirit within the dressing room.

"The reality is that the club cannot continue in its current financial position.

"The owners have personally absorbed losses in the region of £80,000 per year, and this is no longer sustainable for the long-term future of the club."

An issue at Steel Pak over the past few years has been the fact too many matches are postponed, with the latest one to go by the wayside being last Saturday's clash with Shepshed Dynamo which was called off due to a waterlogged pitch.

And the statement added: "We are also beginning the early steps toward a bid for a 4G pitch.

"Further details will be shared soon, but to secure funding, the club must be operating sustainably with responsible financial management.

"The owners remain committed to the best interests of the club and are open to further support or discussions with individuals or groups who believe they can help take the club forward. "Now, more than ever, we ask for your support as we work together to secure the long-term future and strength of our club."

Wednesday night’s clash with Rugby Borough at Steel Park kicks off at 7.45pm.