The administrator of Darlington FC has confirmed that the club has been sold to the DFC 1883 group, effectively saving the club.
The company thanked staff for their help over the past few months and wished the club success in the future.
Darlington will not be classed as a "phoenix club" as they managed to finish the season.
For the full report see North East Tonight at 6pm
ITV Tyne Tees correspondent Kenny Toal, in the Darlington press conference has confirmed that Darlington FC will be saved - but they face relegation of at least one league; possibly more.
Last May he was celebrating winning the FA Trophy in Wembley. Now he's selling up at a car boot sale.Read the full story ›
Members of the Darlington 1883 group have been given more time to come up with a deal to save the club from liquidation. The administrator had given them until Midday but ITV Tyne Tees understands the group is still locked in talks and liquidation procedures have not been put in place yet.
Frantic talks are continuing this morning as a community company tries to buy Darlington football club.
Administrator Harvey Madden has given Darlington FC 1883 until midday to confirm its offer. If the deal on the table is not suitable he will begin liquidation proceedings.
However according to the Darlington FC 1883 Ltd's twitter feed a noon deal will be unlikely, with what's been described as a 'financial hurdle involving one party' as the stumbling block. The group has called a press conference for 4pm.
Tyneside engineering firm McNulty Offshore supplies the oil and gas industries. The administrator, KPMG, says it has suffered from a drop in orders due to the economic uncertainty around the world. Thirty two people are left at its base in South Shields.