Members of the Preston Football Club have unanimously voted in favour of the club going into voluntary liquidation.
Amid a "deep financial crisis", the club hosted a meeting with its members on Monday to vote on a resolution, requiring 75 per cent of members to vote in favour of voluntary liquidation.
The vote saw a resounding result from 75 voters, with the decision to enter voluntary liquidation coming into immediate effect.
Once the liquidation process is finalised, the club will be deregistered, seeing an end to a club founded in 1882.
The Preston Football Club released a statement on Wednesday morning, highlighting the monies owed, as well as "a toxic air and a level of distrust" within the club in recent years.
"A special meeting was convened at Preston City Oval on Monday evening, where it was unanimously passed, following concerning and robust discussion about the management of the club from 2021 to May 2025, and appropriation of revenue in that time, that the Preston Football Club should go into voluntary liquidation," the statement read.
"A gathering of 75 people (including proxy voters) openly shared their thoughts and asked questions as to how and why monies were outstanding to players and coaches at the end of the 2025 season, and how the club had acquired debts owing to the ATO and service providers since 2022.
"The club is now strongly considering its position in other areas.
"Treasurer Zoran Havranek and President Neil Howard spoke about the deep financial crisis the club had entered into over the past two to three seasons with debts owing to apparel firms, utility providers, professional medical providers and security personnel, coaches, and other creditors.
"It was also identified a toxic air and a level of distrust involving the coaches and players against the then-board of directors evolved in 2024 and early 2025 following a number of unfortunate incidents.
"Sadly, at 7pm on 15 December 2025, the club resolved the inevitability.
"As previously advised, at the conclusion of the liquidation process, the club is deregistered. Until that time, Preston will endeavour to provide updates to members, supporters and the general public."
The AFL decided to have the Bullants' VFL license removed following the 2025 season. The side won two games this year, bringing the club's victory tally to seven matches since the end of 2021.
The club won four VFA/VFL premierships in its existence, with its most recent flag coming in 1984.
