Blue Square Premier League


£750,000 by April 30 to save the Quakers

2:41pm Wednesday 15th February 2012


DARLINGTON FC administrator Harvey Madden has announced that the club needs to raise £750,000 by April 30 to come out of administration.

Mr Madden has been given an undisclosed sum of money from supporters to enable a stay of execution.

He told a press conference at The Northern Echo Arena that £600,000 would make the club viable.

Under a plan drawn up by members of Darlington FC Rescue Group, the £750,000 would be raised in three phases of £250,000 through the sale of shares.

The shares will be available priced at £100 each and will be released in blocks of 2,500. They will initially be available on a two-for-one basis.

Money spent in the first phase would be protected, so that if the initial £250,000 is not raised, buyers would get their money back.

Members of the rescue group, which has been negotiating with Mr Madden for some time, have formed a new company, Darlington FC 1883 Ltd in order to issue the shares.

If the full sum is raised, a Company Voluntary Arrangement (CVA) would have to be voted on by creditors before the club can be formally taken out of administration.

The players will be paid on a match by match basis, and Mr Madden said he will try to enhance this if at all possible.

Describing the community plan as a "viable way forward", he added: "We have been here (in administration) three times before - I am the third guy sat here and I hope I am the last."

Darlington MP Jenny Chapman said: "What we now need to see are sustained good attendances at matches and a really strong showing of support through the purchase of shares.

"The administrator has asked the question, "does Darlington want a football club?" and the answer has to be "yes"."

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Comments (22)

6:04pm Wed 15 Feb 12

taffydav says...

any fool who buys into this must have more money than sense
any fool who buys into this must have more money than sense taffydav

6:36pm Wed 15 Feb 12

DarloJon says...

If it takes £600k to make the club viable, why are they asking to raise £750k? This is an extra £150k to pay the Administrators!
£100 for shares is more than most people can easily afford, why is it this much? Explanations please!
If it takes £600k to make the club viable, why are they asking to raise £750k? This is an extra £150k to pay the Administrators! £100 for shares is more than most people can easily afford, why is it this much? Explanations please! DarloJon

6:42pm Wed 15 Feb 12

swissball says...

no fcuking chance lol
no fcuking chance lol swissball

7:28pm Wed 15 Feb 12

taffydav says...

darlo avg about 1800 fans per home game so you lads and lasses gonna have to dig deep and when it all falls flat you will all be sick as parrots so save yer money
darlo avg about 1800 fans per home game so you lads and lasses gonna have to dig deep and when it all falls flat you will all be sick as parrots so save yer money taffydav

7:28pm Wed 15 Feb 12

taffydav says...

darlo avg about 1800 fans per home game so you lads and lasses gonna have to dig deep and when it all falls flat you will all be sick as parrots so save yer money
darlo avg about 1800 fans per home game so you lads and lasses gonna have to dig deep and when it all falls flat you will all be sick as parrots so save yer money taffydav

7:40pm Wed 15 Feb 12

woodles2 says...

if all people were like you lot then darlo has no chance just as well some people care abouit the club
if all people were like you lot then darlo has no chance just as well some people care abouit the club woodles2

8:26pm Wed 15 Feb 12

robbiejay says...

I'm not from Darlo, and I'm not a football fan but it puzzles me why people just want to laugh and gloat at the team. I sincerely hope it works out for them, one way or the other.
I'm not from Darlo, and I'm not a football fan but it puzzles me why people just want to laugh and gloat at the team. I sincerely hope it works out for them, one way or the other. robbiejay

8:35pm Wed 15 Feb 12

randy mcflabb says...

have the Dralington players been paid?
"The administrator has asked the question, "does Darlington want a football club?" and the answer has to be "yes"."
The question is " can Darlington afford a football team ? " why has the term "undisclosed sums of money" being used? is Raj Sihng still having an influence on the running of the club? will the arena be developed into a tesco? is there minutes of meetings that can be made public?, why is the Blackwell Grange used for all secret meetings? will i ever be this bored again?
have the Dralington players been paid? "The administrator has asked the question, "does Darlington want a football club?" and the answer has to be "yes"." The question is " can Darlington afford a football team ? " why has the term "undisclosed sums of money" being used? is Raj Sihng still having an influence on the running of the club? will the arena be developed into a tesco? is there minutes of meetings that can be made public?, why is the Blackwell Grange used for all secret meetings? will i ever be this bored again? randy mcflabb

8:54pm Wed 15 Feb 12

harry2 says...

so how does the club run once the money has been raised x
so how does the club run once the money has been raised x harry2

9:30pm Wed 15 Feb 12

bishop1 says...

waste of time , big greedy stadium costs way too much to run , I have no interest in football whatsoever but can still see the problem .
waste of time , big greedy stadium costs way too much to run , I have no interest in football whatsoever but can still see the problem . bishop1

9:49pm Wed 15 Feb 12

Peg Powler says...

woodles2 wrote:
if all people were like you lot then darlo has no chance just as well some people care abouit the club
Football is a minority interest in Darlington, as evidenced by the pitiful number of fans who go to home games. The fact is, most people really don't care about it one way or another otherwise the club wouldn't be in this predicament.
[quote][p][bold]woodles2[/bold] wrote: if all people were like you lot then darlo has no chance just as well some people care abouit the club[/p][/quote]Football is a minority interest in Darlington, as evidenced by the pitiful number of fans who go to home games. The fact is, most people really don't care about it one way or another otherwise the club wouldn't be in this predicament. Peg Powler

9:51pm Wed 15 Feb 12

Peg Powler says...

woodles2 wrote:
if all people were like you lot then darlo has no chance just as well some people care abouit the club
Football is a minority interest in Darlington, as evidenced by the pitiful number of fans who go to home games. The fact is, most people really don't care about it one way or another otherwise the club wouldn't be in this predicament.
[quote][p][bold]woodles2[/bold] wrote: if all people were like you lot then darlo has no chance just as well some people care abouit the club[/p][/quote]Football is a minority interest in Darlington, as evidenced by the pitiful number of fans who go to home games. The fact is, most people really don't care about it one way or another otherwise the club wouldn't be in this predicament. Peg Powler

8:05am Thu 16 Feb 12

Butterknowle Boy says...

So £750k has to be raised just to take Darlo out of Administration ( Providing that the creditors then all sign the Company Voluntary Arrangement without asking for more money ) but does anyone know how much it will cost to run the club week by week?
So £750k has to be raised just to take Darlo out of Administration ( Providing that the creditors then all sign the Company Voluntary Arrangement without asking for more money ) but does anyone know how much it will cost to run the club week by week? Butterknowle Boy

2:27pm Thu 16 Feb 12

IonlySpeaktheTruth says...

Why does the amount of money given to the administrator by supporters remain 'undisclosed' as stated above. Surely this amount is to enable the club to survive until the 30th April deadline. So any potential investor would find this information crucial in judging as to whether the 750k target to save the club is realistic. We need to know what budget the club is running on at the moment, considering it is not paying much in wages to staff or players. The money was raised by people of the town and we need to know how much has been handed over.
Why does the amount of money given to the administrator by supporters remain 'undisclosed' as stated above. Surely this amount is to enable the club to survive until the 30th April deadline. So any potential investor would find this information crucial in judging as to whether the 750k target to save the club is realistic. We need to know what budget the club is running on at the moment, considering it is not paying much in wages to staff or players. The money was raised by people of the town and we need to know how much has been handed over. IonlySpeaktheTruth

3:15pm Thu 16 Feb 12

rudge1 says...

surely mr madden should as a matter of coutesy tell the fans where all the money is going.I am convinced that there is some collusion between him and singh and the majority of this money will go back to singh. if this isn't the case lets have some answers and do away with the secrecy and stop holding the people of darlo who want ther team to survive, to emotional blackmail.
surely mr madden should as a matter of coutesy tell the fans where all the money is going.I am convinced that there is some collusion between him and singh and the majority of this money will go back to singh. if this isn't the case lets have some answers and do away with the secrecy and stop holding the people of darlo who want ther team to survive, to emotional blackmail. rudge1

3:21pm Thu 16 Feb 12

charlie74 says...

The sum of money handed over is £70 000 and this sum has been knocked off the total to be raised
The sum of money handed over is £70 000 and this sum has been knocked off the total to be raised charlie74

7:47pm Thu 16 Feb 12

MrMorden says...

Football is not minority sport in Darlo, but DFC is a minority club. Basically kids grow up watching their teams on TV wether you like it or not.

They want to support successful teams not Div 4 also rans or now even worse Conference clubs.

Man C and Utd, Chelsea, Arsenal, Liverpool or local premiership sides like Newcastle or Sunderland will have more pulling power than DFC.

Clubs in the lower leagues have lower gates, once they become successful then they will attract more fans.

DFC have never been successful, they have never got into the 2nd tier of the league.

Sad for the club but the debts have mounted up on DFC due to moving into the Arena.

How long will 600,000 last, they need to move out and also how much will Singh want?
Football is not minority sport in Darlo, but DFC is a minority club. Basically kids grow up watching their teams on TV wether you like it or not. They want to support successful teams not Div 4 also rans or now even worse Conference clubs. Man C and Utd, Chelsea, Arsenal, Liverpool or local premiership sides like Newcastle or Sunderland will have more pulling power than DFC. Clubs in the lower leagues have lower gates, once they become successful then they will attract more fans. DFC have never been successful, they have never got into the 2nd tier of the league. Sad for the club but the debts have mounted up on DFC due to moving into the Arena. How long will 600,000 last, they need to move out and also how much will Singh want? MrMorden

8:57pm Thu 16 Feb 12

HolmfirthHatchet says...

Just added 1 grand to the fund with the likely total tonight standing at £110k. £50k from the supporters trust will give £160k within 12 hours. Muppets who constantly knock DFC are typically negative people who want to watch their town die.
Just added 1 grand to the fund with the likely total tonight standing at £110k. £50k from the supporters trust will give £160k within 12 hours. Muppets who constantly knock DFC are typically negative people who want to watch their town die. HolmfirthHatchet

12:30am Fri 17 Feb 12

pandorica says...

HolmfirthHatchet wrote:
Just added 1 grand to the fund with the likely total tonight standing at £110k. £50k from the supporters trust will give £160k within 12 hours. Muppets who constantly knock DFC are typically negative people who want to watch their town die.
lucky that you can afford to waste one grand. if the club was viable do you not think they would of found a buyer for it and in fact not gone into adminerstration twice. Facts are noone wants it so they thought they would blackmail the town into buying it. Well we will never get anywhere so long as the idiots known as the council have a say in it. On a more serious issue, earlier this week featured in this paper was a lady dying of cancer with 4 small children. Her house caught fire and they lost everything. So who gives a sh*t about DFC when you hear about this?
[quote][p][bold]HolmfirthHatchet[/bold] wrote: Just added 1 grand to the fund with the likely total tonight standing at £110k. £50k from the supporters trust will give £160k within 12 hours. Muppets who constantly knock DFC are typically negative people who want to watch their town die.[/p][/quote]lucky that you can afford to waste one grand. if the club was viable do you not think they would of found a buyer for it and in fact not gone into adminerstration twice. Facts are noone wants it so they thought they would blackmail the town into buying it. Well we will never get anywhere so long as the idiots known as the council have a say in it. On a more serious issue, earlier this week featured in this paper was a lady dying of cancer with 4 small children. Her house caught fire and they lost everything. So who gives a sh*t about DFC when you hear about this? pandorica

1:16pm Fri 17 Feb 12

MrMorden says...

Muppets? Who is the muppet? DFC are in administration..agai
n..they owe 2m to their former owner. They are just above the relegation zone of the conference. They have lost most of their players and now rely on the youth players. They have about 2,500 fans. NO OTHER BUYERS have come in to buy the club.

Are you going to say Darlo residents dont deserve a football team?

Good for you that you had a thousand pounds to give them. Doesn't mean the rest of us have. Or even want to.

What happens if my team gets into financial difficulty, can I knock on your door for a thousand pounds?
Muppets? Who is the muppet? DFC are in administration..agai n..they owe 2m to their former owner. They are just above the relegation zone of the conference. They have lost most of their players and now rely on the youth players. They have about 2,500 fans. NO OTHER BUYERS have come in to buy the club. Are you going to say Darlo residents dont deserve a football team? Good for you that you had a thousand pounds to give them. Doesn't mean the rest of us have. Or even want to. What happens if my team gets into financial difficulty, can I knock on your door for a thousand pounds? MrMorden

3:53pm Sun 19 Feb 12

andygib263 says...

If your not interested in supporting darlington fc then stop moaning about it on here. Ive donated some money into the club as I believe in the community run idea behind the club.

How do the club continue to be funded once the £750k raised you ask? Selling tickets to the matches, club shirts, cavery, corporate facilities, drinks, programmes and season tickets to name just a few ways.

The reason previous chairman have failed as they have committed there own money on expensive players and there contracts. A community elected board has a duty to run the club on a sustainable footing
If your not interested in supporting darlington fc then stop moaning about it on here. Ive donated some money into the club as I believe in the community run idea behind the club. How do the club continue to be funded once the £750k raised you ask? Selling tickets to the matches, club shirts, cavery, corporate facilities, drinks, programmes and season tickets to name just a few ways. The reason previous chairman have failed as they have committed there own money on expensive players and there contracts. A community elected board has a duty to run the club on a sustainable footing andygib263

12:09am Tue 21 Feb 12

pandorica says...

andygib263 wrote:
If your not interested in supporting darlington fc then stop moaning about it on here. Ive donated some money into the club as I believe in the community run idea behind the club. How do the club continue to be funded once the £750k raised you ask? Selling tickets to the matches, club shirts, cavery, corporate facilities, drinks, programmes and season tickets to name just a few ways. The reason previous chairman have failed as they have committed there own money on expensive players and there contracts. A community elected board has a duty to run the club on a sustainable footing
so basically what you are doing is no differnet to what was being done before. and what part does darlington borough council play in the club? because as long as they have anything to do with the club DFC will never be sustainable when their putting their gredy hands in and taking a massive cut of the clubs finances every week. also once the 750k has been raised it you can bet your life on it they will want you to put more and more money in. quit whilst you can and treat yourselves and family to something worth buying
[quote][p][bold]andygib263[/bold] wrote: If your not interested in supporting darlington fc then stop moaning about it on here. Ive donated some money into the club as I believe in the community run idea behind the club. How do the club continue to be funded once the £750k raised you ask? Selling tickets to the matches, club shirts, cavery, corporate facilities, drinks, programmes and season tickets to name just a few ways. The reason previous chairman have failed as they have committed there own money on expensive players and there contracts. A community elected board has a duty to run the club on a sustainable footing[/p][/quote]so basically what you are doing is no differnet to what was being done before. and what part does darlington borough council play in the club? because as long as they have anything to do with the club DFC will never be sustainable when their putting their gredy hands in and taking a massive cut of the clubs finances every week. also once the 750k has been raised it you can bet your life on it they will want you to put more and more money in. quit whilst you can and treat yourselves and family to something worth buying pandorica

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