“The mood of the meeting was reasonably positive. There was only one creditor against the proposal,” he said.
It’s understood Tabcorp — owed for poker machine licences — was the sole objector.
Dolphins great and steering committee member Peter Geddes said supporters were delighted they could now focus on regaining the club’s licence so it could re-enter the VFL in 2018.
Mr Geddes thanked Worrells and Frankston Council for their support in getting agreement on the deal from creditors.
He said a general meeting would be held soon so members and supporters could have input on a new board overseeing the club.
“By March to June next year we hope to be in a position to take our football plan and commercial plan to AFL Victoria.”
He said it was expected the Dandenong Stingrays TAC Cup club would use the Frankston Park oval for preseason training.
The Dolphins were sensationally booted out of the VFL in September after AFL Victoria said its debts were too hard to ignore.
Members are adamant the club can be resurrected for the 2018 season.
High profile former Hawthorn president Ian Dicker, who led the resistance to the Hawks’ proposed merger with Melbourne in 1996, has thrown his support behind the club.