Falmouth Town AFC Ltd have confirmed that Alan Carey is to stay on as the first team manager next season, following a turbulent week when it was announced the club almost went out of business.

On Thursday, Falmouth Town AFC Ltd issued a statement to the Packet saying that the club was close to being wound up as the bank had indicated that it would not advance any further funds to them.

It forced Falmouth Town AFC’s executive body to resign and hand the day-to-day running of the club over to Falmouth Town AFC Ltd, the owners of Bickland Park.

Thursday’s statement read as follows: “As Falmouth Town FC steam towards finishing in the top three of the Carlsberg Peninsula League a new chapter is beginning in the history of Falmouth Town AFC.

“Plans for the club’s move to a new site are moving forward as Bickland Park’s owners continue to negotiate the best deal for the club now and in the future. Unfortunately, the success on the field has come at a crippling cost to the club, and it has now become evident that the club has been operating beyond its means for some time. The legal process had already commenced, which could have led to the club being unable to continue to exist. As a result, and in order to save the club, the owners of Bickland Park, Falmouth Town AFC Limited, have stepped in to take over the running of the club.

“The stark reality that the club has had to face is that; if the executive body, charged with running the club, did not resign to allow the Board to take over the running of the club, the bank had indicated that it would not advance any further funds to allow the club to continue trading, which would have meant immediate closure and winding up.

“This would have signalled an end to Falmouth Town Football Club and its history and proud tradition would have been lost.”

Falmouth Town AFC Ltd director Chris McMellon added that the club would now look to stop the policy of ‘bringing in higher paid players from further afield and instead develop local youngsters to take the club forward’.

The statement threw into doubt first team manager Carey’s position at the club. He, and chairman Steve Kimberley, had previously announced their plans to move the club up the football league ladder.

However, fears that Carey might be on his way out, proved to be unfounded. Following a ‘positive’ meeting between Falmouth AFC Ltd and members of the club on Monday night, it was confirmed that Carey would be staying on as first team manager and Paul Murray would continue in his role as second team boss.

However, it has not been made clear how the changes will affect other key people at the club, including chairman Steve Kimberley and vice president and Cornwall councillor Mike Varney. It has also not be made clear what the scale of the debt is at Falmouth Town.

A statement from Falmouth AFC Ltd on Monday, said: “The Directors of the Ltd Co, C McMellon, G Medlin, M Newland, P Hinchley, C Spargo and V Ferguson, who will be managing the club, will be working towards reducing the debt whilst still supporting local football at all levels. At this time no further comment can be made.”