Darlington FC fans turn down investor's £390,000 offer

Fans want the club to be community-run

Fans trying to save Darlington Football Club from folding have turned down £390,000 from a mystery investor.

The Blue Square Premier side is trying to raise £750,000 after it went into administration in January.

So far the Darlington FC 1883 fans' consortium has raised £300,000, but has turned down the offer because it wants the club to be run by supporters.

Craig McKenna, of the Growth Academy, which is advising the club, said the offer was on the "back burner".

Darlington FC 1883 is a consortium of fans which is trying to encourage supporters to buy shares in the club so it can be owned by the community.

'Passionate' fans

Chris Lines, spokesman for Darlington FC, said: "It is my understanding the mystery investor's offer has been rejected.

"The fans are passionate about saving their club but want it to be community-run."

The club now hopes to enter into a Company Voluntary Arrangement which means creditors accept a percentage of what they are owed.

Just after the club went into administration, Sheffield-based venture capitalist Paul Wildes offered to invest £300,000, with supporters putting up £200,000, in return for a 40% share.

Mr Wildes had planned to use the Quakers' 27,000-seat stadium as a concert venue and training academy, as well as football ground.

But the deal fell through after Mr Wildes failed to agree terms with creditors.

Former chairman of the club Raj Singh is owed about £2m, but has agreed to write off part of the debt.