Darlington debt could put off buyers, fears administrator Madden
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“If ultimately the administration purpose, which is to try to sell on and keep people’s jobs and to keep the club going, is not achievable then unfortunately the club will have to go into liquidation.
“I still think I will be here next week, but whether that is as administrator or liquidator, time will tell.”
Peter Madden - Joint Administrator
Darlington joint-administrator Harvey Madden has said he fears the severity of the financial situation will make it difficult to find suitable purchasers.
The Quakers were placed in administration on Tuesday, and a new buyer sought to save the club.
“It’s the amount of debt they have got to pay off,” Madden told BBC Tees.
“They’ve got to pay off football creditors in full, make some commitment to other creditors as well as the ongoing running of the club.”
Among the creditors are the club’s players, some of whom are still owed monies, former manager Mark Cooper and assistant Richard Dryden.
Former club chairman Raj Singh is also owed a substantial amount for his investment in the business.
