Town chief executive Derek Bowden says that the Blues' planned share issue will not take the same form as Norwich City's recent attempt to bring in investment. The Blues were keen to progress a share issue back in the autumn but were advised not to at the time by their lawyers.

No issue will take place until the club is out of administration and are a more solvent company. This was the reason for the decision not to go ahead towards the end of last year.

Bowden says the club wants to make their shares a more attractive investment for fans: "Norwich City had a share issue and attracted corporate investors as well as a number of supporters who put money in and will receive very little in return, apart from a certificate.

"We don't want to go down that road. We want a share issue to be beneficial to ourselves and you, the fans. Norwich were looking to raise £10 million and raised £2.4 million. It satisfied their needs."

The chief executive was speaking at the Trimley Sports and Social Club last night and added that the club were looking to come out of administrations sooner rather than later and explained that Town's problems are different from those of Leicester City: "Their situation was a lot more serious than ours and they were looking for new buyers. That is not the position at Portman Road."

He also revealed that the services of administrators Deloitte and Touche are costing the club £150,000 - £200,000.

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