US businessman Chris Kirchner has FAILED to meet the deadline to prove he has the funds to complete a takeover of Derby County, leaving Wayne Rooney’s side stuck in limbo after Championship relegation
- US businessman Chris Kirchner has failed to meet a deadline for Derby takeover
- The Rams have been in administration for nine months and need rescuing
- The American entrepreneur was given conditional approval to buy the club
US businessman Chris Kirchner has failed to meet a deadline to prove he has the funds to complete a takeover of Derby County.
Derby have been in administration for nine months and the American entrepreneur was appointed as preferred bidder in April.
Kirchner was given conditional approval to buy the club in mid-May, with the EFL setting a deadline of 5pm on Friday to show he was in a position to complete the deal.
A statement from administrators Quantama read: ‘Further to our update yesterday evening and, despite the best efforts of the parties, Mr Kirchner has, as of yet, not provided us with satisfactory evidence that he is in a position to complete the acquisition of the club – albeit he continues to work on this.
‘The joint administrators are continuing discussions with other interested parties. Contrary to reports in the media today, no interested party has been excluded from these discussions.’
It appears American businessman Kirchner is still pursuing the deal, having exchanged contracts with the joint administrators on May 16.
US businessman Chris Kirchner has failed to meet a deadline to prove he has the funds
Derby County went into administration last year and it’s been a long hard struggle to escape it
The English Football League, which had given conditional approval to Kirchner’s ownership, said on Thursday it was “incredibly disappointed” by the latest hiccup in the process and called for a resolution “as a matter of urgency”.
Former Newcastle United owner Mike Ashley is among the interested parties who could now attempt to buy the embattled club.
Other local businessman have been meeting this week to come up with a contingency and lifelong Derby fan David Clowes, who has struck a deal to buy the club’s Pride Park stadium, is also a potential owner.
Mike Ashley, former Newcastle United owner, retains an interest in taking over at Derby
Last week, Ashley was pursuing interests in the retail market. Frasers Group, founded by Ashley, which owns House of Fraser and Sports Direct, stepped in to save fashion retailer, Missguided, from collapse. The company has acquired the online business for £20m.
If Ashley is to make a similar last minute bid for Derby it will have to come soon and will depend on Kirchner dropping out.
With the League One season set to start on July 30, the clock is ticking for manager Wayne Rooney to secure the players he wants to keep and bring in those he thinks can help fire the Rams back to the Championship.
Rooney, who has won widespread praise for his football – and crisis – management at Derby, but he needs a new owner in place in order to assemble a viable squad.
The clock is ticking for manager Wayne Rooney to secure the players he wants to keep
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