Chairman David Keyte has issued this statement tonight via the Hereford United official website.

He said: “Once again, we will manage any emergency situations as they arise.

“We have an immediate cash requirement of approximately £135,000 to meet wages, PAYE and football creditors due May 7.

“In the medium term we will seek shareholders agreement to launch a share issue and also a debenture scheme, where supporters can purchase a seat for the next five years, with accompanying facilities.

“Ground development continues to progress with a realistic timescale for further cask injection into the club being April 2014.

“We have completed a season where we knew our football league funding was to be £500,000 less than in League Two.

“We have also recorded gate money approximately £240,000 less than the previous season. We knew also that 10 Football League contracts that run to June 30 would stretch us and in all we have fallen three months short of the date where the necessary adjustments can be made.

“In addition we now have to manage through the loss of the £215,000 parachute payment which ends this June.”

Keyte says the player budget next term is likely to reduce by £100,000 from last season and £700,000 less than their league two budget in 2011-2012.

“The picture is one where we have short term cash problems with a bright future 12 months ahead.

“Next year will be another tough year but in Martin Foyle and Andy Porter we have a management team with the necessary experience to work through this period and I have every faith in them to produce a team to punch above its weight again next season.”