Woking have avoided bankruptcy after owner Chris Ingram stepped in to underwrite the club's losses.

The Blue Square Bet South side have made a loss of almost £200,000 this financial year.

Shahid Azeem has resigned as both chairman and director while Ingram, head of the club's holding company, has taken over as acting chairman.

Ingram told BBC Surrey: "I was getting vibes from the club that things were not all well."

He added: "I could see the losses were building up this year.

"When James Aughterson came back as financial director he found the losses were going to be much more than people thought they were.

Ingram continued: "The board came to the conclusion that such were the size of the likely losses, the club wouldn't be able to meet its commitments unless there was a substantial injection of cash.

We'll see what we can do to turn it into a going concern Chris Ingram

"I was then called in and I spent last night thinking about what my head and my heart told me.

"I agreed to underwrite the projected losses this year.

"We'll see what we can do to turn it into a going concern."

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