BOSSES at resurgent Darlington Football Club have moved to quash rumours about potential new owners by revealing that chairman Stewart Davies will be staying put for the coming season.

The Quakers were facing the threat of extinction just over a year ago, having plunged into administration with crippling debts.

But Mr Davies, part of the Sterling Consortium, which had loaned nearly £4m to former chairman George Reynolds, stepped in at the last minute to rescue the club.

Darlington went on to enjoy a prosperous 2004/05 season, narrowly missing out on a place in the League Two play-offs.

However, speculation about the club's future ownership has persisted, with former Leeds United chairman Peter Ridsdale linked with the Quakers earlier in the season, after holding talks with Mr Davies.

He has since taken up a consultant's role at Cardiff City, but The Northern Echo understands that Mr Davies still had offers on the table from other potential investors.

However, the club has now confirmed that Mr Davies will be remaining at the helm for the upcoming season.

A Quakers spokesman said: "The chairman has been nothing but good news for the club in the past year.

"He has taken it through a very difficult period so that it is now ready for an exciting 2005/06 season. The future is positive and we are looking forward to the season."

Since taking charge, Sterling has introduced a string of new fan-friendly initiatives designed to rebuild the club's public image.

Parts of the ground have been named after former Quakers greats, new bus services have been laid on, a new bar opened and "kids go free" offers on match-days.

More than £500,000 has also been invested in opening the North Stand at the Williamson Motors Stadium as a family enclosure.