Keighley Cougars have come out of Administration to end nearly 15 months of financial uncertainty.

The board was handed back control yesterday by administrator Peter O'Hara at Leeds High Court after a settlement of £155,000 was made.

O'Hara, who has been in control at Cougar Park since November 1996, was bought out for £80,000 while another £75,000 had to be paid to meet a creditors' voluntary agreement set up in March last year.

The board has agreed to be bound by a CVA to clear the existing debts although some creditors are expected to agree to convert the amount owed into shares.

Many non-preferential creditors face a long wait before receiving what is likely to be only a fraction of their debt.

London-based financier Hami Patel will spearhead the Cougars' revival as they look to put the most traumatic period in the club's history behind them.

Chairman Howard Carter said today: "We are all delighted by the news and I, on behalf of the supporters, would like to thank Hami for the part he is playing in our revival.

"A lot of work has gone into this and we can all now look forward to the coming season with confidence.

"It is a time for us all to smile after the uncertainty we have faced. This club is very fortunate in the support it enjoys and we know it would have been a real loss if the club had not carried on."

And a further boost for Cougars fans eagerly anticipating Sunday's Challenge Cup tie at home to Saddleworth Rangers is the news that former football manager Simon Irving has re-signed for Keighley as a player.

The goal-kicking centre should prove an invaluable addition to the Keighley side.

He rejoins Cougars after a spell in rugby union with Wakefield.

Matt Foster, Chris Robinson, David Larder and Rob Roberts, who all signed for Leeds in last July's deal which helped seal Keighley's financial future are also back at Cougar Park.

Kain is delighted to see Irving back as he looks forward to what he hopes will be a successful season.

"Coming out of Administration is superb for everyone at the club.

"We have assembled a good quality squad here at Cougar Park with only the Gibbons brothers and Mark Gamson not rejoining the club from our team which went close in the Premiership.

"Simon will prove invaluable with his experience as we have one of the youngest squads in the club's history although I must say we have some real quality.

"Bringing Matt Foster, who will also double as our community liaison officer, back on a two-year contract is also great news and has shown a few people that we intend competing this season."

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