And if a solution isn’t found within the next few weeks the 123-year-old club could go out of business.

Emerging debts have forced the new regime, who took over at Victoria Park towards the end of last season, back to the drawing board.

Hopes were high that the recently appointed management team of Mark Lamb and Jimmy Rae, and fresh faces on the committee, including former manager Stuart Robertson and his treasurer wife Liz, would turn the struggling club’s fortunes around.

But recent meetings have unearthed the scale of the financial problems faced by the Lowland League club.

Mr Robertson told us: “With every meeting we have there are new debts coming out the woodwork.

“We are building up a good committee and the plans are in place to put us on a steady financial footing but the situation is a lot worse than we first thought.

“This could be the end of the Vale - a club that has been around since 1891.” It is believed Vale of Leithen owe at least £10,000 and there could be further problems as the committee have been unable to supply receipts to previous funders for recent building work.

Around £1200 is owed to a Penicuik-based charity for using an all-weather training pitch throughout last winter.

One benefactor is owed around £6,000, and there are bank overdrafts, unpaid Scottish Football Association fines, player payments from last season and outstanding bills for pavilion upgrades.

Rental of the Victoria Pitch - which costs £125 month from Scottish Borders Council - is also in arrears.

And questions are also being asked by the Inland Revenue over a lack of submitted accounts.

Mr Robertson added: “My wife Liz got the books and she can’t get her head round the mess that we are in.

“The club has no income, the supporters have all drifted away, we didn’t have any strips of training gear and people are rightly asking us for money.

“Vale of Leithen has been living outside its means for a while now and that is why we are in such a mess.

“We need the community to rally round and get behind us. They could lose the Vale - it is that serious.” Offers of support have already been made in recent weeks with local ice-cream retailer, Caldwell’s Ices, putting up the funds for a new set of strips.

A former chairman of the club also handed over £1,000 towards buying training gear for the new squad.

And Peebles-based garage, David Harrisson Ltd, has offered help with a club minibus.

But many more offers of support are required to keep the club afloat before the new Lowland League season begins.

Manager Mark Lamb told us: “We knew when we came in that it was in a mess but we didn’t realise quite how big a mess.

“We are keeping the wolf from the door at the moment but that can’t go on. There are plans in place for the Vale to return to a sound financial footing but time isn’t on our side.” Talks are ongoing with Celtic and Hibs about pre-season glamour friendlies.

Ian Murray will bring his Championship side, Dumbarton, to Victoria Park on Thursday, July 3.

And Dundee United have agreed to play in a benefit match at Innerleithen on Saturday, July 26.

It is expected that a Lottery Licence will be granted to the club within the next week or two, and a fundraising golf tournament has been arranged for the autumn.

But there is a danger the club won’t be in existence long enough to benefit.

Mr Lamb added: “If we don’t get the mess sorted out we will be thrown out of the Scottish Cup and even the Lowland League.

“It is a make or break time for this football club. Anyone who can help in any way would be welcomed.”