Former Town manager George Burley could receive just £180,000 of what he is owed on the remainder of his contract when the club's CVA is almost certainly ratified next month.

The club stopped paying their former manager in December and due to a loophole in the rules cash owed to former managers did not count as a football debt.

Burley is therefore amongst the unsecured creditors receiving 5p in the pound of the amount they are owed while Town are in the Nationwide league and 20p when they are in the Premiership.

The former Town manager signed a new deal at Portman Road in May 2001 with Town challenging for the Champions' League. He is reported to have been owed £3.4 million on the remaining three years of his contract when Town went into administration in February.

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