Relegated National Two side Mounts Bay are set to enter administration with debts totalling more than £26,000 and no assets to draw upon.

At a meeting held on Thursday evening, club president Michael Leah resigned following the revelations.

He told BBC Radio Cornwall: "I think there are people there that feel they can do a better job.

"I've gone from hero to zero and I don't really like that fact; in fact I resent it."

Administration would be a blow to Mounts Bay, who won eight promotions in nine seasons but were relegated from National Two this season.

We never worked hard off the field on the administration of the club and I think this is where we suffered Mounts Bay chairman Arthur Edwards

Chairman Arthur Edwards said there was no alternative to administration.

"I'm dumbfounded really, I can't put words to describe it because I never wanted this to happen," he said.

"We never worked hard off the field on the administration of the club and I think this is where we suffered."

A four-strong committee has been set up to run the club for the time being.

One of the members of the new committee, David Walsh, said the club's future would be decided at the Annual General Meeting in July.

"The priority now is to get this club on a level basis, whereby we eliminate all of the debt and then we've got a clean sheet to start with next year," he said.

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