Town's Deloitte and Touche administrator Nick Dargan has commented on progress towards a Company Voluntary Arrangement (CVA) and the controversial recent player sales.

Dargan, a Manchester United fan who has previously been administrator at Swindon, Leicester and ITV Digital, says that a creditors' meeting won't take place until the after the season is over: "Good progress has been made and, once the season has been completed and we know for certain where the Club will be playing next season, we will hold a formal meeting of the Company's creditors at which full information will be provided to all creditors regarding the Club's financial position and the events that have taken place through the administration.

"We have of course been in detailed communications with many creditors throughout the administration and have written to all of them."

The sales of Darren Ambrose and Hermann Hreidarsson this week have caused a fair amount of consternation amongst fans. Dargan says the deals were needed in order to pay the wage bill: "There has been some speculation surrounding the reasons for the recent transfer activities at the Club. We felt it appropriate to keep the playing squad together for as long as possible to give the best chance of promotion back to the Premier League.

“However, given the Club's player wage bill, it was always going to be necessary to realise value from player sales before the end of the season. Players have not been sold to appease creditors but to enable us to be able to pay player wages.

"We are now in a position to ensure the Club can survive beyond the end of the season and enable us to complete the restructuring of the Club's long-term finances."

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