HOW are Hereford United going to extricate themselves from their latest financial crisis?

It's another tough situation for the Bulls, whose very existence has been threatened several times in recent years.

Director of Football Graham Turner, who has described the club's financial position as "critical", puts falling gates and the lack of a decent Cup run as the key factors.

Even though they are fourth in the Nationwide Conference, they have virtually no chance of winning the title, while the lack of a Wembley final is likely to hit their revenue if they have a decent run in the FA Umbro Trophy.

Turner also pointed to a lack of income from a social club at Edgar Street. That has still not re-opened since being badly damaged in an arson attack more than five years ago.

The most likely course of salvation would be to turn another of their key playing resources into cash, with young striker Gavin Williams the obvious candidate.

The trouble is that United may have to accept the first offer to help them solve an immediate problem, and consequently he could move on for less than his true value.

One wonders whether the Bulls might have to bite the bullet and turn part-time, which would save them a lot of money.

Turner has often said that remaining full-time is the best way of getting Hereford back into the Football League, but it doesn't always work that way. Not since 1992 has a full-time club actually won the Conference title, although Yeovil Town look well-placed to do so this time.

Even mega-bucks Rushden and Diamonds have not managed it yet, and often team spirit -- which is one of Hereford's main strengths -- can win the day over financial muscle.

It's that sort of spirit that Hereford will need over the coming weeks to bring them through this crisis.