THE five-year contracts agreed by Brendon King and Matt Groves under the Rolls regime have been confirmed as invalid by the Terras’ interim board.

The management duo put pen-to-paper on the deals just a week before George Rolls sold the club to current chairman Nigel Biddle-combe back in February, and the latter has intimated that further talks with the pair have been put on hold until the end of the season.

He told Echosport: “I have spoken to Brendon and told him the deal he has signed is invalid in law.

“Due to the CVA, we cannot be handing out contracts for five years. He understands that and it is a matter that will be revisited at the end of the season.”

Biddlecombe also went on to give a further update of the club’s finances.

He added: “Unless anything else crops up that we did not know about, the total debt we have inherited comes to just under £60,000.

“That figure is now down to just under £17,000 and since we took over we do not owe a penny to anyone. We are on top of our books for everything that has come in and everything is under con-trol in regards to the rates, and kit manufacturer MJM Sports.

“We are also in negotiations with HMRC and the VAT which we are hopeful will come to a sensible conclusion.”

Although the interim board has managed to stabilise the club, it has decided to freeze admission prices for the 2012/13 campaign despite a big call to drop them.

Biddlecombe continued: “We did discuss admission prices at some length and many of us felt £11 should come down to £10 but for the sake of the finances of the club it was decided we can’t really take any risks.

“Having had a season at the current prices, it has been decided they will be held as they are and we ask the fans to bear with us on that.

“Although people are upbeat about what is going on here now, there is nothing to say that in the winter months, when the wet and cold weather comes back, that the crowds are going to continue coming in and that is why we have to be practical and try and strike a balance.

“Season tickets will go on sale shortly, which will see those that take them up pay for just 18 matches.

“Meanwhile, all those that are entitled to concessions are asked to come to the office to prove their entitlement where we will be providing them with a laminated card to show at the gate, or giving them their purchased season ticket.

“Child prices will remain at £3 but we will also be offering an under-16 season ticket for £10 to members of Weymouth Youth, who we are looking to pull back into the fold, and £15 to all others.

“We are working very hard to make tie-ups with the youth community and we are still in discussions with WeySports.

“Weymouth Ladies have already returned until the end of the season and hopefully more link-ups will follow soon.

“We are also looking at other incentives as a way to pulling people in and making things as reasonable as possible for supporters on match-days.

“Two things I can confirm are that the programme price will be reduced to £2 and season tickets for the car park will remain at £20.”

Biddlecombe is set to sign the ownership of the club over to an Independent Trust working on behalf of Weymouth FC before the home clash against Frome Town on Easter Monday, and it appears everything remains on track.

He said: “The first draft of the Trust document has been produced and is now being checked over.

“I have asked the board of directors to review the wording and the Trust to make sure it is right going forward, as we do not want anymore Make It So incidents.

“Not only is it being reviewed by them but it is also being looked at by practicing solicitors.

“The Trust board has also been put together and will consist of Paul Cocks, Simon Etherington, Barrie Merrifield, Roy Child and Graham Cole.

“As of April 9, every unsold share will be transferred to the Trust and going forward the Trust will hold those shares and sell them, transferring the money to WFC as a donation.

“However, there are two very important stipulations in the Trust document.

“Firstly, no single person or company will be able to hold more than 7.5 per cent of the total share issue, which is approximately 1.2 million shares.

“Secondly, the shares in the Trust will not become voting shares until they are sold. Therefore, the Trust will have no vote at an AGM or at any other time.

“But, of course, trustees can be shareholders in their own right.

“What those stipulations ensure is that no one holder can own the club ever again.”

Finally, Biddlecombe also offered further details on the ongoing talks over a possible new ground.

He said: “We are meeting and talking to Morgan Sindall and the plans for a new ground and the option agreement are still very much on the table.

“So far we have had very meaningful discussions with them and at the moment we feel confident that a very positive outcome can be reached for the benefit of the football club. An active search for premises is now in process.”