THE future of Darlington Football Club again hung in the balance last night – despite talks aimed at sparing it from liquidation being at an “advanced stage.”

For negotiations between former chairman Raj Singh and potential investor Paul Wildes are understood to have broken down.

The Quakers have been in administration since the beginning of January but escaped closure a fortnight ago when a group of local businessmen – the Darlington FC Rescue Group – stumped up £50,000 to earn a stay of execution.

That cash is believed to have now run out, but it has allowed investors time to run the rule over the club’s finances.

Three different consortiums remained interested at the weekend, but it now seems venture capitalist Wildes’ plan is the only option still on the table.

The Sheffield-born businessman is willing to pump £300,000 into Darlington, with a further £200,000 the price supporters must contribute for a 40 per cent stake.

Wildes means to keep the club at the Neasham Road ground and make better use of it outside football.

However, his vision was based on previous owner Singh forfeiting the figure – estimated between £1.8 million and £3 million – he has invested, but talks over a mutually-amicable settlement appeared to have failed yesterday.

Nonetheless, joint-administrator Harvey Madden, of Yarm-based accountants Taylor Rowlands, remained hopeful last night of brokering a deal to keep the club from liquidation – thus ending 129 years of history.

Madden said: “Talks regarding the football club are at an advanced stage with a potential purchaser.

“However, no suitable bid has yet been agreed, but discussions are ongoing.

“For the avoidance of doubt I am only talking to one interested party as no other potential purchaser has entered into negotiations.”

The Journal understands that “one interested party” to be Wildes and as of Saturday caretaker manager Craig Liddle was optimistic about the future.

He said: “I had a conversation with Paul (last Friday night) and he is hopeful things can be resolved pretty quickly.

“The deadline Harvey first stipulated was the end of the month, but if there is a (potential) buyer, and Paul has the finances to go on, I am pretty certain that will be extended.

“I don’t think it will be shut down or we will be as close as we were to being shut down the other week.

“That will be extended if there is somebody ready to come in.”

STEVE BROWN