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EFL reveal they are stepping in to deal with takeover as Derby’s administrators speak out

EFL reveal they are stepping in to deal with the takeover as Derby’s administrators speak out over the speculation and allegations.

The English Football League have called out Quantuma and hope that by getting involved, that the takeover can get dealt and the club’s debt can stop rising the longer this goes on, making it harder to make the club survive, to find a buyer and survive the threat of liquidation should it ever get to that point.

The league organisation are putting pressure on the administrators considering there is a serious risk of Derby not being in a position to start the League One season. Fans have issued a petition, which can be seen HERE.

EFL STATEMENT:

The EFL has today informed the Administrators at Derby County that following the failure of Mr Chris Kirchner to conclude a sale of Club, it is changing the terms of the suspended Notice of Withdrawal issued when the Club entered into administration in September 2021.

The League is increasingly concerned that the ongoing delays in the sale process now present a real risk to the integrity of next season’s competition, with the 2022/23 fixture list due to be released in less than two weeks, and need to act now in the best interests of the EFL. 

The suspension of the Notice of Withdrawal of the Club’s share in the EFL is subject to conditions that, in accordance with the League’s insolvency policy, the EFL Board determine and given the lack of progress by the Administrators to finalise a transaction, it now considers it appropriate to revise the conditions of suspension. 

As a result, the EFL has informed the Administrators that there will be a revision to the conditions attached to the suspension and the EFL is now to be made a party to all correspondence and discussions between the Administrators, and any and all potential bidders, with an acknowledgment that the League will be able to negotiate directly in relation to matters concerning the transfer of the share in the EFL. 

Trevor Birch said: “Following this latest setback for the Club and its fans, it is vitally important that a sale of the Club is concluded at the earliest opportunity and we want to ensure that this objective is achieved.  

“Up until now we have provided the Administrators with the time and opportunity to manage the sale process but with the long stop date on the asset purchase agreement and the membership agreement now passed, further urgent proactive action is required in order to do whatever is possible to secure the Club’s future as a continuing member of the EFL.”

HOW IT’S PLAYED OUT SINCE FRIDAY

Derby’s admins released a statement after Chris Kirchner failed to meet the 5pm deadline.

They said: “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, no interested party has been excluded from these discussions.”

After months of uncertainty, Chris Kirchner’s expected takeover of Derby County was on the brink.

The Rams thought they would see a deal for preferred bidder Chris Kirchner to bring the stricken club to safety, but that is yet to be completed. 

Derby have been in administration since business advisory firm Quantuma were appointed to oversee the club’s affairs.

Kirchner has tried to buy Derby twice, pulling out of a deal to take control of Wayne Rooney’s side around Christmas.

Supporters want action with the League One season set to begin on the 30th of July and with only five players contracted beyond the end of June there is a pressing need for things to be sorted out.

Supporters group Black & White Together claimed on Friday that they have had it ‘confirmed’ to the by Andy Appleby that the former club owner remains ‘still in play’ to buy Derby.

In light of Chris Kirchner failing to complete a takeover, the club’s administrators, Quantuma, claimed in a statement that they are “continuing discussions with other interested parties”. They also added that “no interested party has been excluded from these discussions.”

Quantuma reportedly wrote to both Andy Appleby’s group as well as Mike Ashley’s asking if their interest in buying the club remains, despite Chris Kirchner reportedly being ‘determined’ to complete the deal.

Mike Ashley is claimed to have written to the club, via their respective lawyers, to complain about a claimed lack of response to their offer.

Ashley is reportedly ‘determined’ to save Derby County from liquidation, saying he is “ready and willing to transact” and that he wants exclusivity to complete a deal.

Quantuma made contact with Ashley late on Friday night after Chris Kirchner missed a deadline to complete his own takeover bid. Ashley’s lawyers, RPC, responded and the letter reads as follows: “Our client confirms that it remains interested in acquiring the club’s business and assets.

“It has, however, been disappointed by what it considers has been the failure of the Joint Administrators to engage constructively in this regard to date. Our client, as has been the case throughout the sales process, remains ready and willing to transact.

“Our client is not prepared for its interest to be treated as a contingency measure and would require some form of security and comfort in this regard from the Administrators and from Mel Morris as part of entering into any further sale discussions.

“We note that with pre-season rapidly approaching, time is running out and so look forward to hearing from you on an urgent basis.”

RamsTrust sent a letter to Quantuma: “RamsTrust has worked positively with Quantuma since the administration process started in September 2021. We are disheartened that you have not been able to bring Derby County out of administration, as another deadline has passed, despite your best efforts.

“We are now extremely fearful that the EFL will not be able to allow the club to start the next football season. In your statement yesterday, you said that all interested parties are being spoken to but there are reports in the media, specifically The Telegraph, which contradict that.

“We are writing to you urgently to clarify that all potential buyers are being pursued to select the best offer as soon as possible. This letter will be forwarded to our membership. We look forward to your prompt response.”

Quantuma’s response read: “I have read the letter. I can categorically confirm, notwithstanding what has been reported in the press, that ALL avenues are being explored, that ALL other interested parties have been communicated with and that we are in active discussions as we speak.”

Quantuma issued another statement on Saturday evening: “The joint administrators wish to confirm they are engaging with a number of parties who have expressed a desire to acquire the club.

“As confirmed in yesterday’s update, Mr. Kirchner is one of those parties, as he continues to seek to provide us with satisfactory evidence that he is in a position to complete the acquisition of the club.

“At this stage, the joint administrators will not be naming any of the other parties they are engaging with. “However, they understand some of those parties may wish to go public of their own accord.

“The joint administrators would also like to confirm the process in place for those parties who wish to acquire the club.

“The joint administrators are running a competitive bidding process.

“Bids should be best and final and not contain any referential element.

“Clearly, any bid is subject to interested parties entering into an NDA, accessing the data room, and undertaking their own due diligence.

“Of the parties we are engaging with, some are more progressed in this process than others.

“The joint administrators wish to reassure all parties and supporters that they do not discriminate against any party, if a bid is deliverable and credible.”

Chris Kirchner was filmed attending the LIV Golf after-party by professional player Annabel Dimmock on her Instagram account, watching Jessie J, wonder if the song ‘Pricetag’ was sung at any time. He’s out there having a good time whilst fans worry for the future of their club.

Journalist Alan Nixon said Chris Kirchner could wave goodbye to a £1.6 million payment if he misses out on the chase for Derby. He wrote: “Kirchner is currently trying to clear a £21.4 million payment to secure ownership of Wayne Rooney’s club but can be beaten to the deal by rivals after losing his exclusivity.

“But in the meantime, Kirchner has paid in the funds that sorted out the club’s wages last month when they risked losing three points NEXT season.

“Kirchner entered a quick agreement that allowed the administrators to instantly pay the funds.

“As a result Kirchner cannot get that money back if he is beaten to the purchase of the club.”

Fans reacted as EFL reveal they are stepping in to deal with the takeover as Derby’s administrators speak out…

@Tooneyram:
12.06.22
Mel Morris, Stephen Pearce and @quantuma1
You’re a bunch of cunts!
#dcfc

@Jack3verill: About time the EFL stepped in. Quantuma have been milking us for nearly a year and only now people are starting to notice they might have an ulterior motive. Now we might finally be ‘surprised at how quickly things will move now’ #dcfc #dcfcfans

@DCFCMiguel13: Well, massive props to the EFL! Think that hurt a little bit to say! #dcfc

@Sophiedcfc92: About time the @EFL stepped in! Please hurry and get our club sold so we cant have some sort of normality back! #dcfc

@paulc1884: At last the EFL step in to actually try and help us. Please stop Quantuma from getting us liquidated.

@nffcalways1: “At last”? No the efl have bent over backwards to help Derby, how many deadlines have been missed? If the worst was to happen (which won’t) the only people to blame are Mel and the admin team that are working for him

@zakbrownz: We need an independent regulator ASAP.

@redfern_i_j: This statement is very welcome & overdue. It’s also an absolutely damning indictment of Quantuma & their work over 9 months. Trust clearly broken. Maybe now we’ll see some progress with credible bidders! #dcfc

@17Dan17: Bury ran out of money to pay wages and couldn’t provide proof of funding for the full season. We haven’t reached that stage.. Yet. Just answering for those about to post “BuRy DiDn’T gEt ThIs tReAtMeNt”

@Nathwyn: Oh, you’re finally doing something. This should have been done months ago before our entire club has been decimated. Thank you though, finally.

@MCooper0191: Viva Mike Ashley ⚫️⚪️⚫️⚪️

@lovingtheSPURS: I hope Derby get a new owner. Good club and hopefully can get back to being the good club they were.

@AlastairRichar5: Efl obviously don’t trust our Administrators, join the club #dcfc

@haydnward37: You better start getting your arses into gear @quantuma1 and start being transparent in everything you do, which, however is something you should have done from the start! #dcfc #dcfcfans #SaveDerbyCounty

@dcfc87: Credit where credit is due… fair play to the EFL. I feel dirty simply by saying that, I’m off for a cleanse in the sea. #dcfc

@gempopmoo: About time this should of happened back in January… surely EFL feel there is something a miss for them to be involved

@DarkShellcode: As bad as it sounds Mike Ashley might actually be the best buyer for Derby

@MattDCFCTully: EFL finally coming to help the club. This should have been happening months ago. Better late than never I guess.

@DeanWainwright2: What an absolute mess this is! How has it been allowed to go on for so long? Has Kirchner got money or not? Surely this was checked as part of the process? Once again the fans are put through the ringer! Just hope for all the #dcfc fans it gets sorted ASAP!

@Wayno23s: Finally thank you @EFL_Comms @EFL don’t let Kirchner anywhere near our club! We need this sorting Within the next 7-10 days

@MatthewHancocks: EFL in effect taking over the sale of #dcfc

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