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Darlington FC moves away from collapse

Darlington FC has taken a step further away from administration.

Club manager Colin Todd is ready to unveil his playing squad after the Quakers’ creditors accepted the administrators’ proposals and it is expected that the club will start the new season without any points deduction.

Companies and creditors with the equivalent of 93% of the club’s £7.8m debt passed the Company Voluntary Arrangement (CVA) at yesterday’s creditors’ meeting.

Only one creditor turned up for the meeting, which lasted a matter of minutes, with the rest of the creditors voting by proxy.

The club needed at least 75% of the creditors to accept the proposals for the CVA to be passed.

The document also had to be passed by more than half of the creditors unconnected with the club, and 85% voted in favour.

All football creditors, including players and other clubs, will receive all their debt. Unsecured creditors, including councils, the tax man, and local businesses, have accepted only 0.9p in the pound.

Mr Todd, who has not yet signed a contract with the Quakers, was delighted the club has overcome another hurdle.

He said: “The green light is there now. It gives us all peace of mind to move forward. The players are all ready to sign. The players will see today’s news and will be convinced. They were convinced before, but it just reassures them that bit more.

“It is a new regime moving forward now and we have got to walk before we can run. As a football club, we will assess things as we go along.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .