George Houghton has confirmed he is returning to Darlington as chairman and has appointed former Middlesbrough boss Colin Todd as manager.
Three months after putting the club into administration, Houghton has now confirmed he will continue to run the business for the foreseeable future.
"I am not going to let the club die," he said in a club statement.
"I have funded the club up until now and will continue to do so until a person can offer more than I."
Houghton also maintained that it was necessary to enter the club into administration at the time, but said he is hopeful of moving forward under a new business plan.
"It's fair to say mistakes have been made, and for that I apologise, the global meltdown meant that until now it was impossible to raise the necessary funds to keep the club out of administration," he said.
"But events of the past few weeks have allowed me to reflect on the whole situation and listen to what the fans have been saying.
I am convinced we can move forward into a bright and exciting future but we need to be realistic with much tighter controls of budgets and management of costs
Darlington chairman George Houghton
"The past few months have been a terrible time but it has clearly demonstrated the passion of the fans and the community for the club.
"I am convinced we can move forward into a bright and exciting future. But we need to be realistic with much tighter controls of budgets and management of costs "
Todd's appointment as manager comes after former boss Dave Penney joined Oldham in May.
The Chester-le-Street-born manager had been coaching in Denmark with Randers and has experience from spells in charge with Middlesbrough, Bolton, Derby and Swindon among others, and Houghton is confident the appointment can be a success.
"Colin comes with a superb track record and aptitude for spotting talent," said Houghton.
"He is a great asset to the club with experience and willingness to take on the challenge.
"We are all looking forward to rebuilding the side and the public confidence in the club."
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