Last updated on .From the section Welsh

Merthyr Town were re-established in 2010 after originally founding in 1934

A board member of Merthyr Town, Paul Donovan, is confident the club can "get through" its financial problems.

An emergency meeting on Monday was told £10,000 has been raised in attempts to settle a tax bill of £25,000.

Fundraisers hope to raise a further £20,000 by Boxing Day when the Martyrs host Hereford.

"We've had more than a few sticky patches over the years, but if we all pull together we can get over this quite quickly," said Donovan.

"There's a wind of change coming, move forward and I think we can get through this, restructure and go on."

Paul Donovan hopes more people can be appointed to an interim board as officials prepare for a forthcoming annual general meeting.

Chairman Meurig Price and treasurer John Strand stepped down after a weekend of turmoil.

At the meeting ex-chairman Price said: "I've been chairman for the last six years, enjoyed most of it, but maybe not the last few months for obvious reasons."

The Evo-Stik Southern Premier League side Merthyr Town have lost 80% of their squad because of a financial crisis.

The Martyrs have confirmed cash flow had become "extremely tight" and that the club "had no choice but to cut the playing budget significantly".

Boss Gavin Williams took a squad of development players to Chesham in the league and his side were beaten 13-1.

In his own statement on the club's website, manager Gavin Williams said: "80% of the players have had to leave, but I am still in discussion with some players about staying.

"I am confident we will be able to field a competitive team, but it will take a bit of time."

The Martyrs had confirmed cash flow had become "extremely tight" and that the club "had no choice but to cut the playing budget significantly".

Archive: Merthyr Tydfil beat Atalanta

Chief executive Rob Price and board member Mike Williams left the club in September, while Lee Rossiter stepped down as a co-opted board member.

Jamie Mack and Robert Parker have also resigned from the Merthyr board, while Anthony Hughes has stepped down as vice chairman.

"I know supporters are going to want to know as soon as possible what the make-up of the squad is going to be, but I don't want to release bits and pieces here and there so please bear with me while I continue to work at it," Williams added.

Historic highs and lows

The Martyrs were in financial difficulty in 2010, but kept their place in the English pyramid.

Moments of glory in the past have included beating Italian club Atalanta 2-1 in the first leg of their European Cup Winners Cup tie in 1987.

Their third Welsh Cup win came in the same year in a 1-0 victory over Newport County.

The Martyrs played in the Conference, the division just below the Football League, for six seasons until 1995, their highest finish - fourth - coming in 1991-92.