Negotiations to save Truro City go on through the night
The final day of reckoning for Truro City has arrived.
Administrators worked up until midnight last night to agree a deal to save the club.
The Football Conference extended a deadline until midday today when a £50,000 bond must be paid or the club will be expelled from the league.
The West Briton revealed yesterday that leading Truro businessman Tony Murtagh could be behind the rescue package.
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A company called Truro City Football Club 2012 was registered at Companies House on Wednesday with Mr Murtagh as a director.
Mr Murtagh set up the Truro-based Money Group which specialises in re-mortgages.
Mr Murtagh has not been available for comment and the administrators would not be drawn on the identity of the prospective purchaser.
James Moore, the solicitor advising the club administrators, said: "A deal was agreed last night and we are looking to complete the final paperwork this morning to lodge the bond."
Cornwall Council previously said it was considering putting £10,000 towards the bond but Mr Moore said that plan had now been shelved.