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Derby County enters administration after two failed takeover attempts

Sat 18 September 2021 | 3:02

In a statement revealing their intentions on Friday night, Derby announced they are appealing to the EFL "to now assist the Club and the Administrators in any way they can in the effort to find a purchaser".

Due to a failure to identify new owners and the continuing financial impact of Covid-19, Wayne Rooney’s side set to enter administration due to "a number of developments".

Derby County stated on Friday

: "

Last week, it became clear that the process which has been underway to identify a purchaser for the club likely would not be productive over the near term, despite the number of negotiations with credible parties.

"Because the COVID-19 pandemic has had a severe impact on the revenues and profits of all of its businesses, the club has been unable to service its day-to-day financial obligations. The directors had no choice but to make the tough decision to take this action and protect the club."

 

Mel Morris

, who owns Derby County since 2015, told 

Sky Sports

 he is devastated by the administration and that a prospective buyer had pulled out of a takeover as recently as last week.

The club statement continued: 

"The irony is that the club's financial forecasts show the emergence of a financially sustainable picture. Absent the COVID-19 pandemic, we undoubtedly would have been able to trade through.

"However, the impact of COVID-19 pandemic and the unpredictability it has created represents too much of a strain.

"As the COVID-19 pandemic and lockdown tightened their grip, the club's revenues and cash flow took a circa £20million hit."

 

Derby County will face a mandatory 12-point deduction as a result of the move to enter administration.

Speaking about reports of a points deduction for breaching financial fair play rules, Derby Boss Rooney said on Friday: 

"If nine points is the penalty we have to take then I'm confident we'll stay in this division.

"Obviously like everyone else we're waiting to see what's going to happen and what's going on. If it's nine points then I've got a lot of faith in the players and in myself."

 


source: SportMob

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