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From BBC News:
The League Two club is struggling with big losses - estimated to be about £2m for the current financial year.
The club was brought out of a spell of administration in November 2004 by a consortium headed by local businessman George Houghton.
But unless a £30m hotel and leisure development is approved, officials say the club faces an uncertain future.
Darlington Council is being asked to back a major redevelopment project, which would see a 100-bed hotel, sporting village and offices created on an expanded site.
Wealthy benefactor
The club has already won permission to hold concerts in the stadium and also wants to increase parking facilities.
In its submission to the council, the club says the plans could generate an extra £1.37m a year.
A club spokesman said: "It goes with out saying that until Darlington Football Club can meet its ever-growing deficiency between income and expenditure there will always be a reliance on a wealthy benefactor.
"However, industry now recognises that these individuals are few and far between and without one, Darlington would soon be plunged back into administration.
"The alternative to the implementation of this business plan would be that the club reduces costs to the point that an inevitable return to non-league football would be the only way forward and this would drastically reduce the profile of both the club and town."
Talking after the meeting Administrator David Field said: 'The club's creditors have now signed a Creditors' Voluntary Agreement (CVA) which secures the future of Darlington Football Club.
'The prospective purchasers will now approach the Football League, whose job is to decide whether they are considered fit to run a football club, but we don't foresee any difficulties with respect to that.'
George Reynolds said: 'Everything has gone through and the future of the club has been saved, thank God. The creditors have got less than a farthing and it's very sad when I've put my house on the line for the club.'
Tony Taylor, chairman of the Darlington Supporters' Trust, said: 'We are relieved and delighted that the club has been saved after it went right down to the wire.
In a further development Darlington Supporters' Trust has been invited to join the board of the club meaning for the first time it will have had an elected fans' representative on the board.
===================== Previously =====================
7-01-04
The Darlington Rivals site report that The Sterling Consortium have finanlised a deal to purchase the Reynolds Arena. As the club itself owns the stadium and not George Reynolds then the sale will help reduce the debt.
However The club owe Sterling over £4m so there will not be much of a surplus if any. Sterling are also understood to be keen to buy the footballing side of the club, but this cannot be done until a CVA is agreed, as George Reynolds has stated he will reject any offer.
If they cannot but the club outright then Sterling would rent out the ground to the footballing side. FA rules state that this would have to be on a minumum of a ten year lease.
Much to many fans delight the deal will also mean that the Reynolds Arena sign could soon be removed, even though each letter is rumoured to have cost £1000.
================== Previously ==================
17-03-04
Darlington Supporters Trust will be holding a 'helpers meeting' after the Torquay game on March 27th. With the future of the club still far from certain the Trust is still in full fundraising mode as it looks to help secure the clubs future.
After the game against Torquay United fans will be invited to the press room where it is hoped they can rally around and get some help with the fundraising.
==================== Previously ====================
Darlington boss David Hodgson praised the club's fans after a fundraising boost for the cash-strapped side, reports the BBC.
On Sunday, 14,2000 spectators turned up for a fundraising game at the Reynolds Arena, helping the club's bid to get out of administration.
The game attracted former stars Paul Gascoigne, Lee Sharpe and Kenny Dalglish as well as television stars.
'This is going to help us for the next two months,' Hodgson told the club's official website.
'I am absolutely delighted with the turnout. We never expected that we would get such a big crowd and it has been a fantastic day.
'Before today I was expecting maybe 5,000. A big thank you doesn't go far enough.
'I want to say 'thank you' to every single person for keeping this club alive.'
===================== Previously =====================
24-12-03
Third Division Darlington have been placed in administration. They are in the Division Three relegation zone despite moving into a new 27,000 capacity stadium. And chairman George Reynolds blamed the Quakers' cash problems on difficulties putting the new stadium to non-football uses.
Reynolds claimed he took the action in a bid to prevent the club being wound up by the Inland Revenue. He said: 'It's very sad news. We've tried very hard, built the stadium and worked untold hours. If you look at other stadiums, they are allowed to do car boot sales, markets, and computer and antique fairs - but we're not. We're not allowed to make any money. I warned Darlington Borough Council four months ago - they've not been bad. I'm not going to criticise them because they've got a job to do - but it's a long process. It's taken a long time.'
However, Reynolds believes the club can survive, with the co-operation of everyone in the town. He continued: 'We're sitting ducks but the club will turn around if everyone gets behind it. We can survive. My message to the fans is this. If the fans and the business people in the town get behind us we will dance through this. I paid off a £5.2m debt when I came in in seven days - I've put my heart and soul into this club. But I've never had a year like this in my life - it's been an awful year for me.'
Reynolds added: 'I have invited the appointment of joint administrators to protect the club from being wound up by the Inland Revenue who have issued a winding-up petition. You should be aware Feethams was condemned and it was essential to relocate the club. The new stadium is almost complete and negotiations are on-going with the council and it will be for the administrators to resolve this as a matter of urgency. I will provide every assistance to ensure the future well-being of the club. Whilst the administrators resolve the footballing issues I will endeavour to develop other commercial interests for the benefit of the club.'
Despite the club's financial problems, Reynolds says he does not regret getting involved with the Quakers. He added: 'I didn't support Darlington but I couldn't bear the thought of 120-odd years of history going out the window - that's why I became involved.'
