CRISIS club Weymouth is facing yet another obstacle in its path to financial security.

Echosport understands that Barclays Bank has requested repayment of the club’s overdraft, which is believed to stand at around £25,000 and is guaranteed by former chairman and ex-majority shareholder Malcolm Curtis.

Property developer Curtis has since contacted the club and given them 14 days notice to reply. If the club cannot repay the overdraft then it is believed that Curtis could issue a demand for his £220,000 loan to be called in.

Terras’ director Ian Winsor confirmed: “There is a letter addressed to Weymouth FC from Malcolm Curtis. He’s given the club a 14-day notice to respond, he is not demanding immediate repayment on his loan but the letter does indicate that unless the club can settle the guarantee with Barclays Bank then he could call it in.”

When contacted by Echosport, Curtis insisted he has not called in his loan at this stage but refused to comment when asked if he would do so in the near future.

Relations between Curtis and the club could become even more strained after it was revealed that the latter is set to take legal action against the former.

Weymouth director Paul Cocks said: “The club has instructed solicitors to commence proceedings against Malcolm Curtis for his actions during his time in control of the club.

“The preliminary opinion of the solicitors is that there are very strong grounds for action for gross negligence and misfeasance.

“We have reached an agreement with the solicitors on how such a legal action will be funded.”

It has been an extremely eventful few days for the Terras and these latest revelations follow the resignation of manager Matty Hale and the departure from the boardroom of chairman Ian Ridley and director Dave Higson.

Ridley is battling prostate cancer and it is understood that he felt unable to commit enough time to the club as a result.

Higson, who became acting chairman in Ridley’s absence, is believed to have relinquished his position due to other business-related interests.

Cocks added: “Ian has stepped down formally. Although he could take a back seat he’s not that sort of guy, he wants to try and help the club and it’s putting a lot of stress on him, he’s having treatment every day and he has just found it too stressful.

“He’ll stay in contact with us and we will always continue to talk to him, and it may be possible that one day in the future he’ll return when he is better.”

Fellow director Shaun Hennessy said: “We understand that his health is much more important and we feel quite happy with his decision to look after his health.”

Of Higson’s decision to step down, Cocks said: “Our understanding is that with business pleasures he’s got elsewhere in his life he just hasn’t got the time to commit to the football club, which is understandable.

“People are bound to say there is a rift but there isn’t.”

As yet there is no decision on who will replace Ridley as chairman but on a positive note Cocks and Henn-essy confirmed there are two parties that have shown an interest in completely re-financing the Terras.

Cocks said: “We have had app-roaches from two entirely different groups of people and/or companies that are offering to refinance the club lock, stock and barrel.

“One approach only came about at the weekend while the other we’ve known about for a few weeks but the discussions are still at an early stage.

“In regards to the one that has been going on for longer we know who they are, we’ve checked them out, and we don’t need to do due diligence because they could refinance the club out of their petty cash pot if they chose to do so.

“It’s a large corporation, they have a benevolent interest in the football club and I don’t want to say anymore than that.

“I can’t say anything about the identity of those concerned, I can’t promise that either will come to fruition but they are serious proposals which are being looked at.

“Both proposals involve the people who are currently running the club continuing to do so.”

Cocks also reiterated his view that the club must avoid administration at all costs.

He added: “Weymouth FC is in a different situation to most other clubs when it comes to administration. Most clubs go into administration, suffer the consequences and come out the other side with the same board or a completely new board.

“The risk with WFC is the land option. If WFC goes into administration the Wessex Delivery Partner-ship, which is the partnership between Malcolm Curtis and Morgan Sindall, is entitled to take the land away.

“I’m not saying they would or they would not do so but they would be entitled to it, so we see administration as too big a risk.

“If the club survives long enough the WDP is supposed to build a new stadium for the club elsewhere in the borough at a cost of £7 million plus grants.

“My belief has always been, and continues to be, that if the club goes into administration there will be no more football club. I can’t say for certain that will happen but it is a huge risk.”

Cocks added: “The club is still in deep financial trouble. It was left with debts of £500,000, the figure has improved to an extent but there are still substantial non-football creditors.

“But we are in a position where our main income source, which is the gate, has collapsed. At the start of the season we thought it a reasonable assumption that the levels of the gate would be similar to what we were getting at the tail end of last season.

“But the number has slipped down to 570 and no one can blame anybody for not coming to watch a side getting beaten regularly at home.

“But in the context of the amount of money we’re trying to pay off it makes the financial situation at the club very difficult.

“It’s not a pretty situation but the football creditors have been cleared completely.

“We’ve made inroads into the other debts and we haven’t incurred anything in terms of new debt so we’re comfortable that we have improved the situation.”