The future of more than 700 jobs in Elverys Sports looks set to be secured after a management team was agreed for the retailer.

Elverys is set to revert to its own management, led by Patrick Rowland, after they were approved as the preferred investor in the company.

The examiner to Elverys, Simon Coyle of Mazars, made the announcement today.

He said his next task is to formulate proposals for a Scheme of Arrangement, which must be presented to the creditors for approval.

Those proposals will then go before the High Court to ensure the survival of the company as a going concern.

An examiner was appointed to the firm back in February, which has 56 stores across the country.