Buy Darlo campaign passes £250,000 first phase target (From The Northern Echo)
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Buy Darlo campaign passes £250,000 first phase target
10:59pm Tuesday 21st February 2012 in News
THE Buy Darlo campaign tonight passed the £250,000 mark, completing the first phase of the plan to bring Darlington Football Club out of administration.
The total reached £250,960 at 10.45pm, just five days after the fundraising drive was announced.
The money has been invested in Darlington FC 1883 Ltd – the company launched to buy the football club and prevent it from being liquidated.
Yesterday, Mark Meynell, from DFC 1883, described the response from supporters as fantastic, and said that if the fundraising continued at this pace, talks about bringing the club out of administration could start soon.
The share issue is operating in three phases.
It is hoped that raising the first £250,000 will put DFC 1883 in a position to buy the club.
A second batch of shares will now be released. If a further £250,000 is raised, it is thought the company will have enough money to pay off the remaining creditors.
A third batch of shares would then be released which, when sold, it is hoped would give the club a sustainable future.
