THE full draft statement issued by York City Association Football and Athletic Club Plc reads:

By the end of February 2002 York City Football Club will be at the limit of its current overdraft facility at the bank.

The current facility has been possible because of a joint security provided by Bootham Crescent Holdings Plc and York City Association Football and Athletic Club ('The Football Club').

Unless further security is provided to allow an increase in the overdraft facility, or the provision of a bridging loan, it follows that the Football Club will not be in a financial position to continue beyond the end of February 2002.

In order to prevent this happening the Board of Bootham Crescent Holdings Plc are prepared to provide additional security for sufficient funds to enable the Football Club to complete the current season but not for any period beyond that date.

At the end of the season the board of York City Football Club intend to resign and in the interim they invite anyone interested in acquiring the Football Club to write to the chairman via the club to obtain further details.

Anyone who believes they can make a success of running the club will not be required to make any payment, or assume responsibility for the overdraft and/or bridging loan, but they will have to provide certain guarantees and undertake certain obligations. The club's many supporters may wish to form a Trust and proceed on that basis.

The provision of additional security by Bootham Crescent Holdings Plc will not however continue to apply if actions by others precipitate a worsening of the anticipated financial position."