CHAIRMAN Barry Kilby is to hold showdown talks with creditors next week in a bid to secure Burnley FC's future.

The move came as the club unveiled a five-point battle plan for survival.

The club is £5million in debt and in danger of being plunged into administration unless £700,000 can be raised by the end of February.

Officials need the money to finance the club until the re-negotiation of top players' contracts will allow it regain control of its finances in the summer.

Chief executive Dave Edmundson today revealed that more than £100,000 has already been generated through a brand new series of fund-raising initiatives.

The chairman said: "There are some important meetings to be had in London next week with the three main creditors.

"We owe £3million as a long-term debt, and this is the really crucial amount. Next season our fate is back in our own hands at last, by working through the contracts.

"But we do need this help from our creditors at this time for a five-year plan we have put together to pay everybody.

"All we need is time to pay. We can pay the interest and we will pay them in full, so all we are saying is be sensible, postpone the capital repayments a little longer and give us some time to generate some cash.

To that end, the Clarets have unveiled three new money-making schemes aimed at covering an initial £700,000 cashflow problem.

An exclusive '500 Miles Club' is to be launch for 500 fans or organisations willing to invest £1,000 each into the survival fund.

A roll of honour will be unveiled in the Bob Lord Stand and a commemorative, limited edition shirt produced with the 500 names running through the embroidery and which the team will wear for one game next season.

In addition, a 500 mile bike ride is being planned to further boost the fund, while several supports clubs are planning bucket collections outside the ground starting next month.

Edmundson revealed: "We are looking to extend the '500 Miles' theme and the first thing will be this '500 Mile Club'.

"That is 500 people who are prepared to put £1,000 into the club and raise half a million pounds as quickly as we possibly can to make inroads into the financial hole we hit in February.

"The people who respond in this time of crisis will be marked down as the people who, in many ways, saved the club.

"We are not looking to go round with the begging bowl to all our current supporters and say 'get your hand in your pocket again'.

"I am absolutely certain some of those people will support us anyway and make the difference.

"But I am aiming at everybody. It might be an individual supporter or a commercial organisation. There might be pubs that want to stick a jar on the bar to raise the capital.

"It is really about how people want to be represented."

Edmundson revealed that the £100,000 had already been raised by this method from members of club staff, while high-profile fan Alastair Campbell has already agreed to be the first name on the 'roll of honour'.

Some shareholders have also expressed an initial interest in investing the required £1,000.

Anyone wanting more details can contact either Cathy Pickup or Susan Crowther on 01282 700002.

The bike ride will take place in May, with supporters being urged to raise £1,000 in sponsorship and join club catering manager Chris Gibson in a week-long jaunt from Devon to Turf Moor.

However, the club is also throwing open the doors of its stadium fitness centre to allow fans the chance to cover the mileage on exercise bikes over. More details can be obtained by calling Chris Gibson on 01282 700008.

Finally, a player will help promote the club's Claret and Blue Bond lottery by going door-to-door to collect money.