Derby County takeover by Chris Kirchner ‘nearing completion’, says EFL
The Rams’ joint administrators last month named the American software entrepreneur as the preferred bidder for the club
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A deal to take Derby County 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 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.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments