The future of Dunstable Town has been thrown into doubt following an Annual General Meeting held recently.
At the packed AGM, committee members, members and supporters of the Blues overwhelmingly rejected an offer of investment from a consortium of local businessmen.
On why this was the case, a club press release said: “No agreement could be made as a conditional part of the offer was that the club applied for relegation from the Southern Premier League to The Spartan South Midlands League.
“This part of the offer was not agreed and therefore the offer was rejected.
“Following the resignation of chairman John McLoughlin, manager Anthony Fontenelle also decided to leave as he was unsure whether the club would have ‘a players’ budget to be competitive.’
“Both cite the perennial lack of funds as a motivating factor and both wish the club every success in its venture.”
Going forward, there is every intention to compete at the same league last season, as the club continued: “The Supporters’ Club and remaining club members are made of stern stuff and they voted to retain the club’s present status as a Southern Premier League side.”
Interim chairman Alex Alexandrou said: “We have made a leap in the dark but we have one thing in common – to keep Dunstable Town in the Southern League, where we belong historically.
“The club are currently exploring a potential new manager and a possible investment opportunity but also welcome further approaches for the manager’s position and offers of investment opportunities.”
A Supporters and Members Meeting is being held at Gary Cooper in Dunstable on Friday evening, starting at 7.30pm with all invited to attend.