North West Leicestershire District Council says that it reduced its grant to Coalville Town FC due to its current financial situation.

The Ravens have been wound by up chairman Glyn Rennocks - who announced last Friday that he is stepping down from the role as the costs of running the club are too great.

In a statement, he said there had been 'diminished support' for the club from the District Council.

But the council has issued a statement in response saying that the decision to reduce funding for the club was part of an all-round move to cut its budget ahead of a predicted £4million shortfall.

Paul Stone, Director of Resources at North West Leicestershire District Council, said: "We would like to thank Glyn for many years of contribution to the Coalville community through his role as Chairman of Coalville Town FC, and commit to continuing our work with the club in supporting health and wellbeing for the town.

"As is the case for councils up and down the country, we are having to look very closely at our budgets in an effort to remove a predicted gap of £4 million.

"As such, the decision was made by councillors during this year's budget-setting process to reduce our grant to a number of organisations – including Coalville Town FC.

"It is against a difficult financial backdrop and preserving our own services for our residents that we need to propose changes like this."