Louth Town are searching for a new manager after Paul Walden stepped down from his role following the club’s decision to drop down a league.
Walden has told the club he does not want to manage in the Lincolnshire League, while long-serving assistant manager Mike Armstrong has also left the club.
Walden helped Town to a top six finish in the Northern Counties East League last season, while the team also reached the Lincs Senior Cup final.
Club secretary Peter Steele said: “Paul remains involved with the club, but he has stated that he does not wish to manage a team in the Lincolnshire League.
“Mike has decided that after many years at Louth Town he wants to move on and seek new challenges elsewhere. While we wish Mike the best, his absence will be felt across the entire club.”
The club is also likely to lose the core of its first team squad with several players already approached by other teams at the same level and higher.
Steele added: “These players have shown the ongoing commitment to the club, however, due to financial constraints, Louth Town are financially unable to generate a sufficient playing budget for next season.
“While we would love to keep the playing team together we understand that players at this level have commitments and, as such, fully understand that they may move onto other clubs that can offer a expenses budget.
“I would like to take this opportunity to thank all those who played for the club over the last season.”
With no date still confirmed for their move to a new ground on the Fairfield Industrial Estate, the subsequent loss of sponsorship and income forced the club to act.
The club’s committee discussed staying within the NCEL, but felt a team mainly made up of reserves would find the league too big a step.
“Despite the wealth of talent in the reserve team, the season would be spent trying to build the team and as such we would not be effectively competing at levels which the club would be happy with,” Steele said.
“Louth Town took the decision to consolidate the talent that is coming through with the remaining first team players, and build a highly effective team to compete in the Lincolnshire League.
“This is with a view to future promotion back to the NCEL in the not-too-distant future.
“I’m sure the players would like to thank the fans for all their support over the last season.
“They have been a credit to the club and have made the matchday experience at Park Avenue the best in the league.
“I hope that the people of Louth continue to support the club and enjoy what we expect to be a highly competitive season in the Lincolnshire League.”