FANS of York Wasps have been thrown a lifeline - but they now face a 24-hour race against time to save the club.

Players and supporters have pledged to wipe out the Wasps' immediate debt, and as a result of this, the Rugby Football League says it will not rule out extending the survival deadline of 3pm tomorrow.

But if no rescue package is found, the league will accept the club's resignation and York Wasps will cease to exist, ending 134 years of professional rugby in York.

Club directors stunned fans last Tuesday by announcing that the club had folded, and that the company had ceased trading.

To survive, the club must cover its debts and guarantee that a further £70,000 will be available for the club to see out the season.

During a crisis meeting at Huntington Stadium yesterday, players and fans pledged enough money to a supporters' fund to wipe out the club's immediate debts.

About 15 Wasps first-teamers agreed to waive their overdue wages for March, which amounts to about £12,000 of the club's deficit. Donations and pledges from fans exceeded £10,000, although most of the pledges depended on the current board stepping down.

Fan Mike Miller, an accountant, said the club's immediate liabilities were about £20,000, but that the figure would soon rise to £35,000.

He told the Evening Press: "We've got enough for an initial down-payment to cover the immediate liabilities."

More than 400 fans crammed into the public meeting, which was arranged by Wasps supporter Gary Hall.

He said the aim was to prove to potential sponsors and buyers that the club was worth saving. He also hoped the RFL could extend tomorrow's deadline.

The players said they would play for nothing on Good Friday, should the club survive, and would also waive their wages for April.

A working party was also formed during the meeting, aiming to set up a supporters' trust which could have a say in the club's future.

Speakers at the meeting included Wasps coach Leo Epifania, former coach Charlie Taylor, who led the side during the 1950s, and representatives from the York City Supporters' Trust, which helped to save the Football League club. None of the club's directors attended.

YCST spokesman Robert Havercroft urged City fans to boost gates at future Wasps games, should the club continue, saying: "Professional sport in York is a golden asset to the city. If the club does survive, today would be the first day of the future of York Wasps Rugby League Club."

Updated: 11:52 Monday, March 25, 2002