Broughton Printers (£194,000), West Ferry Printers (£177,000) and Benhamgoodheadprint (£43,000) were among the hardest hit of the creditors, which totalled £1.1m, almost half of which was owed to printers.

A number of offers were made for the title before Sullivan, through new company Sunday Sport (2011) came back with an increased offer of £50,000, the report stated.

Sunday Sport (2011) also agreed to fund £4,000 of the administrator's legal costs in relation to the sale.

However, an associated company, Quitelynn owed Sport Newspapers £46,000 in relation to newspaper advertising so the administrator made the sale conditional upon the receipt of outstanding debts.

Sport Media Group and a number of associated companies went into administration on 4 April before the Sunday Sport was sold to Sunday Sport (2011) in early May.

The administrators do not anticipate that a dividend will be paid to unsecured creditors, however the £83,000 owed to employees for accrued holiday pay and wage arrears is expected to be settled in full.