Local businessman Raj Singh is set to become the new owner of Darlington despite previously ending his interest in the cash-strapped club.
Former chairman George Houghton had previously assured the short-term future of the club by putting together a rescue package to keep the club afloat while they sought new investment.
The Quakers are due to come out of administration this summer and Singh is now ready to safeguard their long-term future, although he insists the takeover will not affect the position of manager Colin Todd who was appointed earlier this month.
He told the Evening Gazette: "I'm delighted to have finally done a deal, which I hope will give the club the stability it needs. The issues of debts have been resolved and the club can come forward.
"Colin Todd's position as a manager stands. I have had a chat with him and been very impressed so that's not a problem. We hope to move forward from here and have a solid future."
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