CASH-STRAPPED Darlington Football Club is expected to announce on Monday that it has secured a deal to continue trading to the end of the season.
The Quakers' future was in the balance after a proposed takeover by the Sterling Consortium was delayed.
But administrator Wilson Field confirmed last night that it was on the brink of reaching a settlement with Sterling and the Football League. It will allow the club to remain in business and complete the rest of its Third Division fixtures this season.
It will also provide time for further crucial negotiations to take place between Sterling and former Darlington chairman George Reynolds.
Joint administrator David Field said: "We are almost there and I am no longer just optimistic, I am now confident. We have got all the important things agreed."
Once the short-term compromise is finalised, Wilson Field will turn its attentions to the key date of Thursday, April 22, the deadline imposed by the Inland Revenue for a deal to save the club to be in place.
Mr Reynolds has made his stance clear, saying that he will not use his position as the largest creditor to block any rescue package if Sterling drops bankruptcy proceedings against him.
The finance group launched the legal action in respect of Mr Reynolds' personal guarantees on a £4m loan to him.
Administrators are hoping that a compromise between the two can be reached, but said it will be a struggle.
The Inland Revenue, which is owed £461,000, said a company voluntary arrangement to keep the business afloat should be in place by the deadline, or that the club would face closure.
Mr Field is hopeful the deadline will be extended if there are signs of good progress in forging a deal.
However, he said: "We have got just under three weeks to put forward a proposal.
"We cannot do that at the moment because we know the largest creditor, on paper at least, will reject it.
"Convincing the creditors now, with Mr Reynolds among them, is going to be very difficult.
"If we cannot get any settlement, then there will be no point going on and we will shut down at the end of the season."
Read more about the Quakers here.
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