Former vice-chairman Raj Singh has tabled a bid for Darlington - but threatened administrators that he will walk away if the offer is not accepted by the end of the week.
He told the Darlington Evening Gazette: "I have done all I can. I have made a fair offer. Now it is up to them.
"I have told the administrators that it has already dragged on long enough, and that is why we need decisions to be made now."
Mr Singh's bid includes ownership of the stadium and the surrounding land.
"We need the whole set up if we are to take it forward, and the council has a role to play," he added. "We want to develop football academies on the land, and make the whole club viable."
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