The future of Molesey Football Club is hanging in the balance this week, as members make a last-ditch attempt to save it from going bust.

The club is understood to be £500,000 in the red and many supporters have put in their own cash to keep it afloat.

Bosses will vote whether to make an “I-owe-you type legal agreement” at an Extraordinary General Meeting (EGM) being held today.

It would mean the creditors will be repaid after five years, which would buy time to try to sell off some of the land to developers.

Some supporters believe it is the only way to save the club, which also has a strong youth element.

One member said: “It’s a lovely little club. If it went it would be another amenity gone in Molesey.

“We’re in the combined counties league, we’ve been going since 1953. If we don’t play football we’re nothing.”

But Surrey County Councillor Ernest Mallet, who has been giving legal advice to the club, said the five year agreement would only delay the inevitable.

He said the land was unlikely to be sold off for housing because of a section 52 agreement which designates it for recreational use. Even if that was lifted, planning permission would still need to be granted.

The club sold some of its land to build houses in Dunvegan Close several years ago but it they may not be approved again, he said.

Chairman Tony McGuinness refused to be drawn on the future of the club until after the meeting.

He said: “It’s not a very nice situation. We have to wait to the EGM to see what they want to do. It’s a members club and they have their views.”

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