DARLINGTON FC 1883 (DFC 1883) has revealed plans to form a community interest company (CIC) to run the Quakers.

The announcement comes after DFC 1883 bought the club on Thursday after agreeing a deal with administrator Harvey Madden.

Fans who put money into DFC 1883 will be invited to reinvest their money in the new CIC.

The new owners say a CIC offers a wide range of benefits to the football club, including the ability to apply for grants.

Craig McKenna, from DFC 1883, said it also prevented the club’s profits and assets from being diverted away from its supporters and the community.

He added: “Forming a CIC is a significantly better way of moving forward for us.

“The money pledged to DFC 1883 will be going back to the fans. We will then put in place a mechanism that will allow the money to be reinvested in the community interest company.”

The initial plan is for seven board members to run the club, including three of the current DFC 1883 board and four other fans. No date for the vote has yet been set.

CICs are subject to normal company law, but must act for the good of the community.

They are run on a one member, one vote system, rather than the previous ownership model, which was based on one share, one vote.

Several clubs around the UK are already run by CICs, including Stenhousemuir and Clyde.

The Quakers have not yet been told which league they will play in next season, with a decision from the Football Association (FA) unlikely before the club finds a ground for 2012-13.

A spokesman for the FA said last night that they were liaising with administrator Harvey Madden and DFC 1883, and were awaiting a proposal from the new owners.

Mr McKenna added: “The amount of work that still needs to be done is huge.

“We will be making every effort of keeping fans informed as we go and will continue to answer their questions on the Darlington Uncovered on-line fans forum.”

DFC 1883 will hold a question and answer session for fans on Friday at the Blackwell Hotel, in Darlington. The time of the event is still to be confirmed.