The scale of the alleged debt at Cornwall's biggest football club has emerged.
Truro City Football Club owes nearly £4 million pounds, it has been claimed.
The figure has been revealed in a report from the administrators, Walsh Taylor, currently running the club.
Truro City went into administration after former chairman Kevin Heaney was declared bankrupt.
Negotiations are still ongoing regarding the sale of the club to three businessmen from Truro - Pete and Jaoson Masters from nightclub L2 and Pete Perryman from taxi firm A2B.
The figures are taken from information given by creditors and have not been agreed by both sides.
The report notes that: "Any sale of the Football Club is likely to result in the company proposing a company voluntary arrangement to all creditors."
The list of creditors is made up of debts ranging from a couple of pounds to a claim for £1.5 million from BCK, a "wealth management" company based in Dublin.
The list also includes allegedly unpaid utility bills and more than £1 million to an individual named as Yulia Sincock. A Julia Sincock is listed as one of the directors of the football club.
A number of Truro City players also appear on the list of creditors but are listed as claiming zero payment.
The total sum allegedly owed is £3,931,352 with £30,000 claimed by preferential creditors and £3,901,352 claimed by unsecured creditors.