Darlington Football Club was placed into Administration on the 23rd December 2003 to avoid a winding up order being presented by the Inland Revenue. The full scale of debts at the club are still be evaluated by the Administrators but are estimated at anywhere from £6m to £30m, the largest creditor being George Reynolds who resigned as Chairman earlier this year.
One of the Club's secured creditors, a finance organisation that loaned money to build the Reynolds Arena, had reached agreement with the Administrators to take the Club out of Administration, but this has been blocked by ex-chairman Geoerge Reynolds. Mr Reynolds has over the last few months indicated that he would accept 10p in the pound, but is now saying that he will not agree to any sale of the club and that it will close.
The Club could be sold under normal insolvency rules, but the Football League regulations which require all the creditors to agree to a sale leave the future for Darlington FC looking bleak. It is very likely that Darlington FC will go out of business.
The rules, of the Football League as they stand at the moment, are benefiting the people who have caused the problems and penalise genuine parties who could give clubs a realistic future.
We therefore ask the Football League to relax their rules
on the procedures for club's coming out of Administration in order to preserve the future of Darlington Football Club.
Please sign the petition (Can we ensure that all signatories are genuine though, we don't want forgeries, or it will reduce the potential value of the petition.)