Deal over Darlington FC expected later today
9:00am Tuesday 1st May 2012
A COMMUNITY company bidding to buy Darlington FC is today expected to conclude a deal with the club’s administrator.
Talks between Darlington FC 1883 Ltd (DFC 1883) and Harvey Madden will this morning enter a second day.
The discussions are taking place ahead of a creditors meeting due to be held on Friday.
A statement issued last night by DFC 1883 said the aim of the talks was to “finalise the way forward”.
It added: “It is fully expected that (the talks) will conclude on Tuesday and further details will be shared as soon as possible. Both Harvey Madden and the interim board of 1883 Ltd understand the thirst for news from the fans and we appreciate the speculation and rumours that are currently circulating have caused concern.
“Answers do need to be provided, but it would be entirely inappropriate to comment further at this stage.”
The statement was issued amid mounting speculation about the community company’s efforts to buy the club.
DFC 1883 had hoped to agree a company voluntary arrangement (CVA) to pay off football creditors immediately and non-footballing creditors over the next three years.
However, conditions requested by former chairman Raj Singh to secure his backing as the largest creditor meant the CVA would have been unacceptable to the Football Association.
A statement issued on behalf of Mr Singh last night referred to last week’s negotiations.
It said: “A number of options were discussed and agreement was reached in principle by Mr Singh in relation to the proposed CVA of Darlington Football Club 2009 Limited.
“Today (Monday) different proposals, not involving a CVA, have been put forward by the rescue group and discussions are ongoing. Mr Singh continues to co-operate with the group with a view to securing a positive way forward for the club at the earliest opportunity.”
Speculation about where the Quakers will play next season, if they survive, has also grown in recent days.
Discussions with stadium owners, Graham Scott and Philip Sizer, continue.
* DFC 1883 will hold a fundraising abseiling session at the arena from 11am on Saturday. Participants will abseil from the roof of the stadium onto the pitch.
Equipment will be provided by Rock-it Climbing to anyone who raises £50 or more in sponsorship for DFC 1883.
Anyone who raises £100 or more will be entered into a draw to win a share in DFC 1883.