But he has explained that his request for help came at a meeting arranged before the unexpected cup win at Brighton and favourable Fourth Round draw.

The fans, the Stags Supporters Association (SSA), declined the request just 48 hours after the win over the First Division club on 5th January.

The Stags' cup run is expected to have handed the club a £450,000 bonus – and should wipe out most, if not all, of the £500,000 losses predicted earlier in the season.

Mr Booth, brought in to Field Mill in December to stabilise the day-to-day running of the club and find a buyer, told Chad: "The meeting with the SSA on the Monday, 7th January, had been organised the previous week.

"We are most appreciative of what the SSA is doing in selling the England Wembley international prize draw tickets to raise money for the transfer fund – and for what they have already done with regard to the training facilities.

"When I asked if they were willing to help over any transfers this month, they felt unable to make any committments.

"We are not going out begging for money, the result at Brighton and subsequent draw has made life so much easier financially at the moment.

"But if people come along and are prepared to donate money for transfers, of course we are not going to turn them away."

The SSA said it could not justify extra expense after paying for the training facilities this season - and with the club gaining extra, unbudgeted for, money from the Cup.