Angry Northampton Town fans have been told they can’t find out how much the cash-strapped club received from the sale of star striker Ivan Toney to Newcastle United – because of a confidentiality clause.
The League Two side sold Toney to the Magpies in the summer for a fee believed to be in the region of £500,000.
The club currently has a £166,000 debt with the taxman, means it is doubtful players and staff at Sixfields will get paid this Friday.
Cobblers chief executive James Whiting faced angry fans at a public meeting as he tried to explain how the club is in such a dire financial position which could see them go out of business.
At the meeting he was asked how the club could find itself in a state when the club sold highly rated striker Ivan Toney to Newcastle at the end of July.
Mr Whiting said he could not reveal the amount due to an agreement with Newcastle United.
But he went on to say: “It was a good windfall for the club, but it was not huge.
“After the East Stand there was a huge hole in the budget compared to what we were receiving.
“A lot of the money that did go in in July and August went on the general running expenses.
“It did not leave us with a surplus in the bank account for situations like this.”
After a winding up petition was lodged against Cobblers by the HMRC for £166,000 of unpaid taxes, the club’s accounts have been frozen.
Communications officer at Cobblers, Gareth Willsher said he has had limited contact with club chairman David Cardoza over the past few weeks and said he could not give answers on where the money had gone.
“The honest answer is, we just don’t know,” he said.
Northampton are also in negotiations over the repayment of a £10.25million loan with their local council.
For more on their financial crisis, click here.