PLYMOUTH Albion have given notice to go into administration in order to sell the club to new owners.
The current board have been trying for the last 12 months to try and get the club on a sound footing again after their financial troubles last season and their relegation from the Championship.
It did look like they had found a solution to sort out their long-standing debts but it has fallen through and the board believe the best solution now for the club is to go into administration.
This will allow them to clear their debts from the Championship and hopefully keep most of their current squad, who currently sit third in the National One table.
The current board said this decision was ‘in the best interests of the club’.
Albion were going to go into administration last season but opted against it to try and stay in the Championship, although in the end that was not successful.
Albion will almost certainly face a points deduction if they do go into administration but as they are in third place in National One, they should have enough to stay in the division and hopefully mount another challenge next season.
Director of rugby Graham Dawe, who has rebuilt the team this season with mainly young West Country talent, is expected to issue a statement later.
There is believed to be a consortium ready in place to buy the club once the debts are cleared. It is rumoured to be the same people who attempted to purchase the club last season. On both occasions they have wanted the club to go into administration to clear their debts before investing in it. However, there is also an opportunity now for any new potential investors to come forward in the next few days.