A DEAL to sell Darlington FC to their former vice-chairman Raj Singh could be concluded as early as this week, The Northern Echo understands.

Sources close to the Quakers, who have been in administration since February, said last night that the sale had been agreed and now only needs legal approval.

Mr Singh was still cautious about the timing of the deal, but said it had been agreed in principle.

Former chairman George Houghton placed the club in administration in February after amassing debts of £7.8m in three years.

They were automatically deducted ten points by The Football League.

The penalty was eventually the difference between the Quakers’ 12th place finish and a spot in the promotion playoffs.

Although ten interested parties entered due diligence to buy the club, administrators Brackenbury Clark and Co were unable to find a buyer, with Mr Singh the only person to table a bid.

His first was withdrawn and a second one was rejected as “unworkable”.

Mr Houghton, as preferred bidder, started proceedings to exit administration in May, but said he would keep the club up for sale.

Two weeks ago, he tabled a Company Voluntary Agreement (CVA), the deal of which will be voted on at a meeting at the Darlington Arena tomorrow.

It requires the backing of creditors owed at least 75 per cent of the club’s debt.

Mr Singh also emerged as a potential saviour of the club and started negotiations to buy the club from Mr Houghton.

He said: “Wednesday is very important. That is a big hurdle we need to get out of the way.”

If the CVA is approved, a 28- day appeal process follows.

The Football League will also be expected to rubber-stamp the deal and return the club’s league share – otherwise the club could start next season with a 17-point penalty.

Once the CVA process is completed, it would allow Mr Houghton to conclude the sale to Mr Singh.

Mr Singh said he was “cautious”

about the completion of the deal, but added: “We hope to have something signed up soon, but I don’t know if it will be all signed this week.

“We hope to get it all in writing.

It is like buying a house – like the exchanging of contracts – the legal process is quite a long process.”

The deal would give Mr Singh full control of the football club, with the pair equally sharing the ground and development land.

■ A concert organised on Saturday night, called Darlo Bands for Darlo Fans 2 and featuring bands March of The Dogs, Si Kelly, Lifetime Skiver and The Steady Boys, raised about £500. Club memorabilia from the Sixties, signed by Ron Greener and other Quakers’ legends, was also auctioned off.