Keighley Cougars (2001) Ltd have gone into administration but at least the club has been saved.

The news was confirmed today after a court hearing in Leeds, with business rescue, recovery and re-structuring specialists Begbies Traynor now looking after the club.

The sale and purchase agreement of the old company’s assets has been completed and are now owned by Keighley Cougars (2010) Ltd.

Keighley’s rugby league club, which is 133 years old, faced a winding-up petition from HM Revenues and Customs for a debt of £183,000, which had built up over the last few years.

When attempts by the club and the Rugby Football League failed to secure a repayment agreement with the Crown, and efforts to secure funding also failed, the company faced being wound up or placed into administration.

Rob Sadler and Gary Lee of Begbies Traynor were appointed joint administrators today and immediately secured a sale of the business and assets to a consortium of local businessmen who are fans of the club.

As well as saving the club, the deal has secured the future of the playing squad and staff at the ground.

Joint administrator Lee said: “This is a great outcome for the club and the town and means that this important amenity for the local community will survive, as well as safeguarding the jobs of the players and staff at Cougar Park.

"Local people have rallied to save the club and this is the best possible outcome for all parties – the club will continue and the not-for-profit organisation has agreed to repay a proportion of any surplus over the next five years.”

Cougars won promotion via the Co-operative Championship One play-offs this season, defeating Oldham 28-26 in the final.

However, Cougars are set to start 2010 with a deduction of up to nine league points because of going into administration.