Coleraine supporters have come to the rescue of the club

The Friends of Coleraine are set to take the club out of administration a year after the Bannsiders faced extinction with debts of over �1m.

The group will now take reponsibility for the management of Coleraine.

They claim the move will secure the club's playing status within the Irish Premier League.

The path to purchasing the club was cleared following High Court approval on Tuesday.

The buyout action will allow the continued operation of the club within the framework of the IFA.

The action was unopposed by the Inland Revenue and other creditors of Coleraine FC.

"It is our intention now that the future of Coleraine FC has been secured, to implement proposals to further the club's development on and off the field," said the Friends of Coleraine.

"We trust the sporting public will now get behind this initiative."