AN overwhelming majority of Barry Town's creditors have agreed to a deal that should ensure the future of the Welsh Premier champions.
Local businessman Stuart Lovering (above) put forward an offer of around 100,000 in place of full payment of Barry's debts, which were thought to be close to 1 million.
His proposal was agreed to by 94% of the creditors at a meeting in the club on Wednesday.
A second bid put together by Clayton Jones, who runs Shamrock Coaches, was not put before the meeting.
The club still have plenty of on-field problems to sort out as they currently lie bottom of the League.
It was confirmed that manager David Hughes will stay on to help the club rebuild.
Lovering, a Cardiff City fan, told BBC Sport Wales that he was eager to get Barry back on track.
"I'm very happy and can't wait to get started, I'm a huge football fan and have always dreamt of running a club," he said.
"All the debts have been paid off, we must keep within budget but there is money available for players and for improving facilities.
"We want Barry back challenging for the Welsh Premier title and playing in Europe."
Club director Dr Liz Davies was equally pleased. "My main feeling is relief that the hard work of the past five months has brought us this far," she said.
"Mismanagement and over-commitment brought on the crisis, but now we will work closely to our budget.
"I'm confident Stuart can get us back to the top. We'll back him to the hilt - he's not on his own in this.
"This club will claw its way back to the top, no matter how long it takes."
10 December 2020