Totton`s cash crisis has seen debts spiral and revenues plummet, leading to players and staff being owed £47,000 in wages, while chairman Paul Wallace dramatically quit at a meeting last month. But a club spokesman claimed a consortium led by Ed Holmes – the chairman of neighbouring Totton & Eling FC – had struck a deal which will end their woes after making a presentation at the meeting at its Salisbury Road ground.

The spokesman said: “In essence, they are going to provide professional management of the club and manage debts.

“Urgent payments are going to be made so the club can continue to play in the Southern League.”

Under the plans, AFC Totton Trust will retain ownership of the ground but will lease it to a new company called Testwood Park Ltd which will oversee the management of the club.

Meanwhile, AFC Totton Football and a new sports and social club will be incorporated into a new company headed by a chief executive, and the team would remain a members club.

Club facilities manager Paul Maiden, who is one of four trustees said there was a “resounding vote” of support from the members.

He added: “This is something very positive at long last.

“He’s talking about structure that will satisfy the club and full members and will to carry the club forward and make it a more business-like organisation.

“Things are positive and the football club will be able to function in the league without disappearing without trace.”

Holmes said the deal is very promising, stressing the club has fantastic facilities.

He added: “It needs professional management and everything’s got to be run on strict business principles.”

The spokesman said the creating of a supporters club had been mentioned. But he said there was no instruction from the members to do anything other than involve the consortium.