Darlington's fans group have confirmed the purchase of the club's assets after ditching their original CVA plan.
The announcement leaves former club owner Raj Singh with nothing after his debt, along with all other unsecured creditors, were left behind with DFC 1883 Ltd buying only the trading name, club badge and website, and other intellectual property of Darlington FC.
The new company remains liable for players wages, reported to be around the £100,000 mark, but retains 50% of the sell-on rights on former striker Dan Burn, who remains a prospect with Fulham. The club will have to play outside of Darlington next season with no suitable venue available in the town, but they hope to return next summer and are in talks over a number of potential grounds.
The new company remains liable for players wages, reported to be around the £100,000 mark, but retains 50% of the sell-on rights on former striker Dan Burn, who remains a prospect with Fulham. The club will have to play outside of Darlington next season with no suitable venue available in the town, but they hope to return next summer and are in talks over a number of potential grounds.
The original company will now fold with the fans now waiting on what division the FA will place what is effectively a new club into, while they are to now seek £200,000 in fundraising over the summer to fund the new club after having to return the £350,000 originally raised after their takeover plan failed when Singh blocked the CVA and the FA refused to allow his specified clauses.