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Tranmeres problems stemmed from historical debt and the financial input of their former owner Peter Johnson. He threatened not to keep financing the ongoing losses at the club and was seeking a buyer. The club had debts of about £7m. The trust at Tranmere were trying to raise funds to buy the club from him but failed to reach the level required. However Mark Palios, ex FA Chair, stepped in and tried to run the club with agreement from their bankers on a much reduced budget. Its obviously failed.Part of their slide could be down to sacking Ronnie Moore when he was found guilty of breaking league rules and betting on matches.