A DIRECTOR of Truro City Football Club (TCFC) confirmed an investigation would be carried out into recent property deals at Treyew Road.
The West Briton revealed two weeks ago how the ground had been sold for £2.28 million to a company called JoJo Investco Ltd.
It is unclear what has happened to the income from this deal. Julia Sincock, speaking on behalf of the board of directors at TCFC, said the difficulties faced by the club were due to the national economic decline.
But she added: "However, despite these conditions, the club was able to make some arrangements for long-term investment into the club from the ground redevelopment. The club and its board are extremely disappointed by the way this agreement has been handled and it continues to be investigated and will be considered by the administrator of the club."
Ms Sincock said the club now needed help from "wherever it can get it.
"Whether it is a call to the fans to turn out in numbers on the gates, to the players to continue their great start to the season, or to the staff to keep up their monumental efforts in keeping the club running, this is the lifeblood of the club and is what is needed and appreciated more than ever right now."