WEST Perth coach Bill Monaghan is expected to be among the creditors who will attend next Tuesday’s meeting to vote on the Falcons’ future.
The club is in voluntary administration with about $790,000 debt.
West Perth players are also on the list of creditors, but it is understood they have signed off to not attend the meeting.
Creditors can vote to accept a 4 cents in the dollar option, liquidate the club or hand control back to the board.
Administrator KordaMentha has recommended they take the 4 cents in the dollar alternative because they will get nothing in return if they liquidate the club.
West Perth staff and player payments will be secured under the offer with a $250,000 loan from the WA Football Commission.
A spokeswoman for major creditor VenuesWest on Friday said the State Government-funded entity would accept 4 cents in the dollar and write off the remaining $198,453.
“Following extensive analysis and consultation with the voluntary administrator…writing off the debt was in the best interest of the club, the club’s creditors, the players and the local community,” she said.
“VenuesWest is hopeful the end of the voluntary administration ushers in a new, sustainable era for the West Perth Football Club.”
Sports Minister Mick Murray labelled it a “regrettable set of circumstances”.
“With this assistance comes a clear expectation that West Perth FC now does everything it can to put the club on a sustainable long-term footing,” he said.
West Perth held a fundraiser at $200 a head on Thursday featuring former AFL-listed Falcons Stephen and Bradley Hill, Mark Seaby and Callum Chambers.
The club raised $31,000 with raffles and auction items.