Coalville Town announced a series of resignations on Friday morning, citing financial hardship as the root cause.

Club Chairman Glyn Rennocks will stand down from his position at the club, while the men’s senior team have been forced to resign from the Southern Football League.

The club’s management have “been informed” of the decision, the club said in a statement posted on X.

Taking to X, Rennocks told supporters of Coalville Town:  “I first got involved with the club in the early 1980’s when we were in the nearby village of Ravenstone. At the time the club were in all reality a pub team. Over the next 40 years the club has progressed without ever suffering a relegation.

“Along the way we have enjoyed Promotions, FA & FA Trophy Cup Runs, became the first club from Leicestershire to appear at the new Wembley Stadium but more than all of that on field success we have become a real focal point for the town and local community.”

Despite joyous runs, balancing the books has proved a tough task for the now former-Chairman.

“Over the last 2-3 years the costs of running a football club at this level have spiralled and the income has not matched the rise in costs,” he said.

“I have always said I am a supporter and it just costs me a lot more than most to go to matches. However as I approach my 70th birthday I can no longer continue to subsidise the club.”

“I have always ran it in a sustainable way, never cut budgets and the club has no debts, However, after much thought and discussions I have taken the difficult decision to step away. The club will withdraw it’s men’s senior team and resign from the Southern League with immediate effect.”

Rennocks has also slammed the North West Leicestershire District Council after an alleged lack of “support”.

“Also, in recent years the once fantastic support we received from North West Leicestershire District Council has diminished,” he said.

“Especially since a certain councillor came to prominence, and he has allegedly said that I personally should come under more scrutiny and has changed the council representative from Cllr Geary who has been for many years a fantastic representative for both council and football club.”

After his work towards the community during his time as chairman, Rennocks described his now allegedly broken relationship with the Council as “unwarranted”.

“I feel this is totally unwarranted given the positive impact I and the club have had on the town, providing a facility and structure for almost 900 local children through our 90 junior teams to enjoy football coaching in a safe and healthy environment along with painting the town in a positive light through our success that has received nationwide publicity.”

Paul Stone, Director of Resources at The North West Leicestershire District Council said in response: “We would like to thank Glyn for many years of contribution to the Coalville community through his role as Chairman of Coalville Town FC, and commit to continuing our work with the club in supporting health and wellbeing for the town.

““As is the case for councils up and down the country, we are having to look very closely at our budgets in an effort to remove a predicted gap of £4 million. “

“As such, the decision was made by councillors during this year’s budget-setting process to reduce our grant to a number of organisations – including Coalville Town FC. It is against a difficult financial backdrop and preserving our own services for our residents that we need to propose changes like this”

The statement by the club also included a message for supporters of Coalville Town.

“I have no doubt that this will disappoint a lot of people, no one more so than me, but there is no other alternative.”

“Along with the financial impact, the running of the club falls on a small group of people, myself, Luke my son, Joy my wife and Steve Cartwright. Whilst we have a fantastic group of volunteers on match days, there is a huge amount of time needed from the four of us everyday and that can no longer continue.

“Over my tenure I have registered over £140,000 of director loans into the football club to help with its infrastructure, this I will never get back nor do I want back but I also dread to think of what this total would look like if I included every time I have had put money in to the day to day running.”

“As mentioned I am not getting any younger and right now I am at a point where I would rather spend my time and effort on my family, particularly my two and three year old granddaughters – retirement from work also beckons!” he added.