Carlisle United's Official Supporters' Club believe their stake in the Blues won't be "diminished" by plans to convert some of the club's debt to equity.

Andrew Jenkins, John Nixon and Lord Clark are set to exchange the value of some of their loans for new shares in the club.

It is part of a plan to ensure United's overall debt does not increase despite recent loans from Edinburgh Woollen Mill.

But CUOSC, who own 25.37 per cent of United's holding company, say these will be non-voting shares that won't reduce the fans' group's influence.

CUOSC chairman John Kukuc set out their position in a briefing to members as they explained why they supported the plan.

He said: "The plan which has emerged is to issue non-voting shares to the directors involved, thereby swapping their debt for equity.

"The effect of this would be that the debt goes down whilst the net assets of the club go up.

"The CUOSC board, having taken professional advice, supports this move because it lessens the disincentives to investment but does not diminish the influence that a 25.37 per cent shareholding gives us as our voting rights would not be affected.

"Our support is also in line with our approach of working with and for the club whilst protecting and promoting the interests of our members and other fans."

Kukuc suggested that Nixon's £20,000 loan and Lord Clark's £10,000 would disappear as a result of the conversion, while the more substantial debt to Jenkins would be "reduced substantially".

United's last accounts showed the club owed 81-year-old Jenkins £980,000 and his firm Pioneer £680,750.

It is expected the changes will show in Carlisle's accounts for 2016/17, for which the auditing process is under way.

Edinburgh Woollen Mill made a "loan facility" available to United in March.

That followed the demise of the 650-day "billionaire" saga in which an investment offer from an overseas suitor - understood to be Syrian Yahya Kirdi - was rejected.

CUOSC added that discussions over a new shareholder agreement are also progressing. "Discussions between CUOSC reps and the other shareholders have reached the point where the draft agreement is well advanced," Kukuc added.

"Amongst other things, it will cover the circumstances in which the dilution of shareholdings may occur and the range of safeguards that might be required if and when the club changes hands."