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Last Updated: Wednesday, 30 August 2006, 12:03 GMT 13:03 UK
Crawley creditors back rescue bid
Crawley Town
Crawley Town's immediate future appears to have been secured after the club announced that its creditors have voted in favour of a rescue package.

All creditors were voting on a final offer of 50p in the pound for the club from the Majeed family's SA Group - which had two previous bids rejected.

If the latest bid had been turned down, administrator Rob Sadler could have wound the club up immediately.

The bid had previously passed a vote of a committee of creditors on 10 August.

The Majeeds were in charge when the club went into administration in June with debts of nearly £1.4m.

Under Conference rules, any club which still has outstanding debts to football creditors - namely players and staff - is not allowed to take part.

On the pitch, the Red Devils began the season on minus 10 points following their move into administration - but they have already wiped out that deficit after collecting 10 points from their first five games.

SEE ALSO
Crawley chairman Majeed bows out
22 Aug 06 |  Crawley Town
Crawley are ready to start season
10 Aug 06 |  Crawley Town
Crawley bidder tables new offer
09 Aug 06 |  Crawley Town
Crawley meet Conference deadline
26 Jul 06 |  Crawley Town
Crawley Town facing player exodus
15 Jun 06 |  Crawley Town
Crawley placed in administration
05 Jun 06 |  Crawley Town


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