Daw - some interesting ideas.
At the risk of being flamed I don't know how wise it is to put all eggs in one basket here with the American option (and yes I would like to see the club survive - possibly as a club too)
As I recall a letter came round (being the one and only communication club members seem to have got ) regarding paying a small amount of money each to clear the debt. Now as a lot of people probably wouldn't want to send good money after bad this doesn't seem to have come off. However what are the prospects of the members buying shares in the company in a similar way to clear the debt and become shareholders? This may have the added benefit of giving the members more of a say in the running of the organisation and a stake in any profits returned from the club.
There is probably an extremely obvious reason why this wouldn't work but surely worth considering ??