Margate may lose 10 points after applying for a Company Voluntary Agreement to deal with their financial problems.

The Ryman League Premier Division side has to pay a debt to the taxman by November 26 and must apply for a CVA to protect the long-term future of the club and allow them to continue with the redevelopment of Hartsdown Park.

A statement on the club’s website says the agreement will be for one year and will protect them from going out of business - but entering such a deal brings an automatic points deduction under Ryman League rules.

The Gate, who would go to the bottom of the league and face a relegation battle should the points deduction go ahead, have been helped in their efforts to raise the money by the Margate Independent Supporters’ Association (MISA) who have raised over £3,000 to date.

The statement added: "We continue to seek an alternative route for the club and would like to thank MISA for their continuing efforts to raise funds.

"Should an alternative solution be found prior to November 26, 2008, the CVA will be halted."