Share sale bid to save Darlington

Darlington are hoping that money raised through selling shares to supporters will be able to save the club.

In January, the Quakers entered administration for the third time in nine years.

Administrator Harvey Madden has told the club that they have until April 30 to raise £750,000 in order to exit administration.

The club hope to gain the majority of money through the shares scheme, after setting up the company Darlington FC 1883 Ltd.

Shares will be sold for £100 each and released in three blocks of 2,500. Buyers of the first block will have their investments protected and will be reimbursed if an initial £250,000 is not raised.

If the funds are raised by the deadline, creditors will vote on a Company Voluntary Agreement before the club can formally exit administration.

Madden told a press conference: "We have been here [in administration] three times before. I am the third guy sat here and I hope I am the last."

Madden believes that raising £600,000 would be enough to make the club's future viable.

Darlington are currently 19th in the Blue Square Premier.