Originally Posted by Saddlebag
Another question. If the club should go financially bust, can anyone be held liable for outstanding debt?
Of course. Debts aren't forgiven just because the club may be financially insolvent. Whoever signed the contracts will be liable as the club representative.
Hoping the club is registered as an LLC, as that will protect the responsible parties from having their personal assets taken to repay the debts. Unless they signed a personal guarantee, then all bets are off.