'We need to learn from mistakes' - Hartlepool United's financial challenges laid bare

Speaking to the club's official matchday programme, The Blue Print, Maguire admits the club's hierarchy are forensically examining their finances, given that parachute payments and contributions to fund youth funding have now run dry.

"We have examined everything. We have considered the consequences of the parachute payments running out and the youth funding ceasing to exist and we have challenged every line of the budget to make sure that we are trying to do this the right way, with the right level of commitment.

Mistakes have been made, according to Maguire.

But he reckons that's something the club can learn from moving forward.

"We have to ask ourselves what we've done well and what we've done badly," said Maguire.

"We need to learn from mistakes and not get complacent about successes. We have to make sure there is a work ethic running through Hartlepool United which means that no matter what, every member of staff on and off the pitch is working harder, smarter and better than any team in the division."