Town Chairman David Sheepshanks: “The premise of this share issue is utterly different to the last time. This time it is from a position of comparative strength. Whatever funds are raised will go straight into the team.

“If it is £100,000, if it is £1m or £32m - whatever, it will go into the team in the form of new players, possible transfer fees and wages.

“We have a two-year window negotiated with our lenders and that provides us with a real opportunity to mount a concerted promotion drive.

“We will do our best to be promoted next season and if that doesn't happen then our plan is to be in the same position next summer where there will be no pressure to sell and be in a position to be even stronger the year after.

“This is not about saving the club; it is about moving the club forward.

“The financial conditions are right given the new arrangement with our lenders so that means the new investment is in the team and not to service debt for at least two years.

“We believe that when all the injured players are recovered the existing squad is already competitive. If we can add to it then we should be a serious promotion contender

“The way some of our young players have performed this season is already really exciting and we believe there are real grounds for optimism.

“When you look at Danny Haynes, Billy Clarke, Nicky Forster, Sam Parkin and Alan Lee then we have five strikers.

“Gavin Williams is a proven attacking midfielder and there are so many areas which already look stronger than, candidly, we looked against Stoke City last week.

“So for those three reasons the board believe this is the right time to invest in the team.”

Source: EADT