Folkestone Invicta are finally debt-free after paying off their CVA two months early.

The Company Voluntary Arrangement had hung over the Kent club since early 2010 but a bumper crowd of 852 for their Boxing Day derby against Hythe Town helped clear the final payment.

Folkestone chairman Jim Pellatt said: "We were hoping for good turnout against Hythe on Boxing Day, and it proved a terrific day for the club, both financially and on the park with us winning the game.

"And, in accordance with a pledge made by the club on the strength of a successful Christmas holiday fixture, we have made the final payment to the CVA, two months early.

"We are of course delighted to confirm that this has been done, and it has been confirmed by the administrator of the CVA who will now start the formalities to finalise it.

"I’ve said before now that at least 80% of CVAs don’t see a positive result for the company - or in our case the football club - involved, which makes what we the board, manager Neil Cugley, his players and you the fans have achieved all that more satisfying for every one of us who have been involved."

He added: "We must not forget the very generous donations made in February 2010, by (directors) Bob Dix, Brian Merryman and (then chairman) Lynn Woods, who between them made the down payment on the CVA.

"Without that, this whole arrangement would not have been possible and Folkestone Invicta Football Club would almost certainly not have survived."