National News

Chris Kirchners takeover of Derby is nearing completion

today5 May 2022 53

share close

Chris Kirchner’s takeover of Derby is ‘nearing completion’

That’s according to the English Football League

A deal to take Derby out of administration with Chris Kirchner as their new owner is nearing completion, the EFL has announced.

The Rams’ joint administrators last month named American software entrepreneur Kirchner as the preferred bidder for the club, who have since been relegated from the Sky Bet Championship.

A statement from the EFL on Thursday said: “The EFL Board has today been advised that a deal to take Derby County out of administration and under the ownership of Mr Chris Kirchner is nearing completion.

“Evidence of source and sufficiency of funding has now been provided but there still remain a number of outstanding challenges to be resolved.

“As a result, the Board has instructed the Executive to continue its discussions with Mr Kirchner and his representatives in regard to finalising the terms of a membership agreement.

“However, a significant issue remains in respect of the status of the stadium (Pride Park) and Mr Kirchner continues in dialogue with the relevant parties as to how this can be resolved. It is clear that the complexity associated with this aspect of the transaction is the biggest hurdle to overcome.

“The EFL acknowledges the current time pressures relating to Mr Kirchner’s position as preferred bidder and will seek to conclude matters as soon as possible in line with requirements as set out in the League’s insolvency policy.

“The League will be making no further comment at this time.”

The statement was retweeted by Kirchner, who had earlier posted a message, accompanied by a picture of a plane, saying: “Time to go to Derby! See y’all soon.”

Derby were placed in administration last September and issued with a regulation 12-point penalty as a result, as well as being hit with an additional nine-point penalty for breaches of accounting rules.

Kirchner ended his initial interest in the club in December but recently returned to negotiations following a failed bid to take over Championship rivals Preston.

Wayne Rooney’s side, relegated with three games this season left following a 1-0 loss at QPR on April 18, are 22nd in the table and conclude their campaign by hosting Cardiff on Saturday.

Published: by Radio NewsHub

Written by: ES1

Rate it

Post comments (0)

Leave a reply