NORTHWICH Vics owner Jim Rushe has revealed that the football club’s debts are being slashed.

Rushe told the Chronicle that the financial difficulties at the club are slowly being addressed and that he has also been granted a deadline extension to buy the Victoria Stadium.

He also said that Vics were close to being taken out of administration and that the transfer embargo was in the process of being lifted, to allow manager Andy Preece to bring in players for the Blue Square North campaign.

Rushe said: “Virtually all the football clubs that were owed money have been paid and all the players have been paid. There are a couple of lads that we still need to settle things with but once that is done then Northwich Victoria Football Club will be fully paid up. That is a huge positive for us.

“Hopefully the CVA will go well, the creditors meeting will go well and soon we will be taken out of administration and we can move forward. That will be a great weight lifted off us.

“The fixed charge receivers have given us an extension to buy the ground until the first week in August.

“When you are ejected from the league you are expected to be playing in, all you figures change. We would have been in a lot of financial trouble had we not won the appeal.”

The terms of the Company Voluntary Agreement (CVA) is being decided between the tax man and Vics’ administrators Refresh Recovery.

Once it is agreed, then it should prove that Vics are serious about starting to repay their six-figure debts.

Northwich Vics Supporters Trust is holding its AGM tomorrow at 7.30pm. Everyone is welcome, it is free to enter and their will be a quiz after the meeting which will be held at the Victoria Stadium. Chairman of the trust Peter Grimes is expected to step down from his role with his successor to be announced at the meeting.