Darlington's administrator Harvey Madden has told the Blue Square Bet Premier club it has until April 30 to raise £750,000 in order to exit administration.
The Quakers, who entered administration for the third time in nine years in January, intend to raise the majority of funds by a share issue after fans formed the company Darlington FC 1883 Ltd.
The club will sell the shares for £100 each, released in three blocks of 2500, with the first block protected so that buyers would be reimbursed if an initial £250,000 is not raised. Madden said: "It will basically be a small investment times a lot of members equals the funds needed to go forward for the football club."
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