THE long-term future of Darlington Football Club appeared to have been secured last night after an 11th-hour deal to save the Quakers was agreed.

George Reynolds and the Sterling Consortium said they had reached an agreement ensuring the former chairman would vote in favour of the only rescue package on the table.

Supporters' leaders welcomed what should be the end of months of uncertainty about the fate of the 121-year-old club, which collapsed into administration in December.

The outlook for the club seemed bleak after a heated creditors' meeting ended in stalemate on Wednesday, with a company voluntary arrangement (CVA) proposed by Sterling expected to rejected.

Mr Reynolds and other influential creditors were unhappy with an offer totalling £150,000, and had vowed to reject it when the meeting resumed on Tuesday.

But Sterling, the financier which owns the Quakers' stadium, and Mr Reynolds - who was facing a bankruptcy petition next week - sat down on Thursday in an attempt to find a compromise.

The two parties were locked in negotiations until late into Thursday night and resumed talks again yesterday morning in Leeds.

Just after 5.30pm yesterday, Sterling financier Stewart Davies told The Northern Echo that long-suffering fans could finally look to the future with confidence.

Both parties said a confidentiality agreement had been signed to prevent full details being released.

However, Mr Davies, who co-owns the stadium with Melvyn Laughton, said: "Mr Reynolds is fully supporting the club and he's going to support me in my attempts to make sure there is football in Darlington.

"It's fantastic news. I was always confident we would deal with it, without a doubt."

The former chairman said part of the deal was the lifting of the bankruptcy threat initiated by Sterling, which loaned £3.9m to Mr Reynolds to complete work on the Neasham Road ground.

"We have put a deal together, I'm satisfied with it and the club will survive," he said.

"We didn't want the club to close. We are quite happy with it, although we still feel the creditors should get more.

"It's sad for them and it's also sad that we built such a wonderful stadium."

He said Mr Davies had ended up with the shares of the club but could not elaborate further.

"I have negotiated an agreement to secure the future of the club. I can't go into it. It is private and confidential. I just hope the club does well," he said.

Wednesday's creditors' meeting was adjourned to allow joint administrator David Field more time to investigate the validity of a £10.3m claim from Mr Reynolds and Sterling's £3.3m claim.

But a vote from Mr Reynolds in favour of the CVA on Tuesday, together with Sterling's support, would be enough to rescue the club.

A jubilant Mr Davies said: "I can say that football is assured at Darlington next season, subject to the Football League approving the transfer of the share, which they said they would do if the CVA was approved."

Tony Taylor, Darlington Supporters' Trust chairman, said: "It is excellent news that a deal is reported to have been reached."

He added: "We look forward to developments over the next week and hearing Sterling's immediate plans."

Mr Taylor said the trust was prepared to work alongside anybody committed to ensuring League football in Darlington.

Joint administrator David Field said: "George has spoken to me and said a deal has been reached, but there is a confidentiality agreement.

"If a deal has been reached, that can only be good news, but I need to know how it affects the club, the company and the CVA before I can comment on it."