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Speaking to today's Hereford Times, Bulls chairman David Keyte said he had a meeting yesterday about Monday's winding up proceedings.
He told the paper in an interview conducted yesterday: "We have a meeting with our stakeholders (Wednesday afternoon), but we would have to ask HM Revenues and Customs by Friday to withdraw their petition and to pay the money due."
"To go into administration would mean we incur a 10-point penalty. Then, if we had not paid football creditors by the end of the year, we would automatically be relegated.
"If, because of our points total, we were relegated anyway, then we would be dropped another level. Our prime objective is to stay in this league."
"Lincoln's chairman has put in more than £500,000 since they were relegated. Macclesfield are in a parallel position to us and they are seeking £150,000 which their board have said they would match. Stockport have been relegated again and Darlington have had to re-form.
"That is why we have supported the playing budget beyond allowing us to break even."
The paper also reports that talks are still ongoing with potential investors from outside the county, while a rehashed telecoms deal may also be possible.
