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Fri 01 July 2022 | 18:08

Derby County "saved" as the takeover is finally completed

The conclusion of their long-awaited takeover has given Derby County the satisfaction of having been "rescued," as they put it.

After a turbulent 2021/22 season that finished with relegation from the Championship and left Derby facing the real threat of going under this summer, the Rams entered administration in September 2021.

Soon before

Wayne Rooney

left as manager in June, negotiations over a sale to

Chris Kirchner

fell through. However, the commotion has now ended when local real estate developer David Clowes, who already owns

Pride Park

, intervened to purchase the Club.

"We are very pleased to have achieved today's sale, in a deal that protects The Club's long-term existence and one that represents the best outcome for creditors," said joint administrator Carl Jackson.

"I would like to extend my sincere gratitude to The Club's staff players and the supporters for their devotion and endurance as they supported the Club through the administration.

"The level of complexity involved in resolving this matter has been unprecedented, and we are grateful to all stakeholders and their advisers for their hard work that has enabled us to overcome a significant number of obstacles and enable the rescue of this historic Club," said fellow joint administrator Andrew Hosking.

"This deal, which marks the end of the uncertainty felt by fans and the larger community while the Club was in administration, represents a real turning point in

Derby County

's long and illustrious history. It also, and perhaps more importantly, complies with the EFL Insolvency Policy and offers the best return for creditors.

"Today represents a fresh start for the Club and allows it to enter the new season with a clean slate under Clowes' supervision and local ownership.


source: SportMob



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