Darlington Update

[On the Left Wing]

This morning BBC Wearside

Creditors to decide club's fate

Darlington Football Club's stadium has already been sold off
Creditors are meeting to decide the fate of troubled Darlington Football Club.

Former chairman George Reynolds called in administrators last year over club debts of more than £1m.

The administrators, Wilson Field, said if an agreement could not be reached with creditors the Third Division club would have to close.

On Wednesday, creditors were due to assess a £150,000 rescue package for the 121-year club.


A company voluntary arrangement (CVA) proposal worth £150,000 has been put to creditors.

Stadium sale

If accepted, it could mean the Sterling Consortium taking control of the club.

The consortium has already bought the club's stadium, formerly called the Reynold's Arena.

However, Mr Reynolds is understood to be ready to block the CVA deal amid claims he is owed about £20m.

The stadium sale enabled the struggling club to fulfil its fixtures until the end of the season.

Last year, fans from the Darlington Supporters Trust set about trying to raise cash to support the club.

Collections also took place among supporters during a number of games, and former international stars, including Paul Gascoigne, Brian Robson and Kenny Dalglish took part in a number of fundraising matches.

 

[The Clown of Pevensey Bay]

This should be a bit of an NSC scoop: I understand that five creditors currently want to block the CVA (to get it blocked only needs ONE creditor to say so).

If this happens, it's possible Darlo will be ejected from the league at the AGM in June, and Carlisle will be asked to remain in Div 3.

 

[lincs seagull]

sad state of affairs where people want to save the club but the bitter chairman wants to see the club wound up rather than survive what the hell has been going on behind close doors to get to this hostile attutide.

if you spent that much time and money surley you would come to some short term arrangment rather than killing them

 

[On the Left Wing]

Update ... another week to sweat it out ....

A meeting by creditors to decide the fate of troubled Darlington Football Club has been adjourned until next week.

Former chairman George Reynolds called in administrators last year over club debts of more than £1m.

The administrators, Wilson Field, said earlier that if an agreement could not be reached with creditors the Third Division club would have to close.

Creditors had been assessing a £150,000 rescue package for the 121-year club.


A company voluntary arrangement (CVA) proposal worth £150,000 has been put to creditors.

Stadium sale

If accepted, it could mean the Sterling Consortium taking control of the club.

The meeting was adjourned until 25 May to allow the administrator to consider the validity of claims for money by Mr Reynolds and the Sterling Consortium.

The consortium has already bought the club's stadium, formerly called the Reynolds Arena.

However, Mr Reynolds is understood to be ready to block the CVA deal amid claims he is owed about £20m.

The stadium sale enabled the struggling club to fulfil its fixtures until the end of the season.

Last year, fans from the Darlington Supporters Trust set about trying to raise cash to support the club.