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The proposed CVA, due to face a shareholders vote on April 25th, will see the club pay creditors 47p/£ of their current outstanding debt from profits of a proposed redevelopment involving housing, however a similar redeveloping scheme has already been rejected by the council.
Should the CVA be accepted, the club would wait to see whether it was relegated before finalising the paperwork that would see it incur a 10 point penalty.
The list of creditors for the £3.5million debt runs to three pages, with current owners Lavaflow owed £1.4million. The Inland Revenue are owed over £1million, and former Chief Executive Jon Sotnick owed nearly £40,000 despite having quit the club after 'working for free'. Curiously, local entertainment venue the Gliderdrome, a regular 1970's rock venue and more recent bingo hall, is owed over £250,000.
Boston's players remain unpaid for March after a promise that the outstanding money would be paid on Tuesday was left unfulfilled.
"No, the wages haven't been paid to the players - and the staff are in the same boat," manager Steve Evans told the local press."As for why, you'll have to ask the chairman (Jim Rodwell)."
Boston's wafer thin squad will be further depleted with the news that Barnsley forward Nathan Joynes will leave the squad after the two Easter games, with the club unable to afford his wages any longer.
This leaves Boston with only 11 fit professionals. They are having to make the numbers up from their youth side, a team currently third from bottom. Unless a footballing miricle occurs it looks like Boston will be relegated this season and will enter their CVA before May, ensuring the 10 points are deducted this season so it will not have an effect on their chances in the Conference next season. A club in crisis.