Derbyshire-based property group Clowes Developments (UK) Ltd has accepted its offer for Derby County with a provisional completion date of June 29.
On Friday, it was reported that Clowes would bid to buy the Sky Bet League One club after buying the company that owns Pride Park Stadium from Mel Morris.
Clowes had also issued a provisional loan to the club that would have allowed Derby to start the season and trade while a deal to buy the Rams is finalized.
However, a statement from Derby administrators Quantuma has given Wednesday as the expected completion date, allowing the club to enter the new campaign out of administration.
A spokesperson on behalf of the joint managers said: “Over the course of the last day, the joint managers have continued positive discussions with Derbyshire-based property group Clowes Developments (UK) Ltd (“Clowes”) which resulted in an offer believable and acceptable that is presented.
“Discussions regarding this offer, which complies with the EFL Insolvency Policy, have taken place with a variety of stakeholders.
“The joint administrators are delighted to confirm that they have formally accepted Clowes’ offer to acquire Derby County Football Club (“The Club”) out of administration. Clowes has been awarded preferred bidder status with immediate effect.
“The joint managers will now enter a period of exclusivity with Clowes, with completion of the acquisition of the Club’s business and assets scheduled for June 29, 2022. All parties are now working hard to conclude what is still a complex legal transaction in a very short time.
“Once concluded, the transaction will allow the Club to move forward and prepare for the upcoming season out of administration. It will also ensure that Pride Park Stadium and the Club are under the control of a new local owner with the commitment and resources to enable the Club moving forward with a clean slate The offer also provides the best return for creditors and allows the Joint Administrators to fulfill their statutory duties and will ensure that no further point deductions are applied against the Club once it is out of administration.
“The acceptance of Clowes’ offer and entry into a period of exclusivity means that the joint managers are now barred from further discussions with other parties who had indicated an interest in acquiring the Club. The main focus now is on completing the transaction with Clowes within the scheduled time”.
David Clowes, chairman of Clowes Developments, has previously spoken about wanting to rescue the club he supports.
“With a deadline looming and the start of next season getting closer, we needed to do something,” he said.
“As an established, local property company, buying the stadium seemed like the obvious first step. Secondly, as a proud Derby supporter, it was inconceivable to me that the club was at risk of disappearing.”
“We have worked tirelessly behind the scenes on the stadium purchase and loan deal to be able to get the club back up and running in time for next season. The players, staff and fans needed good news, and we are delighted to be involved. “. to deliver that.
“As a long-standing loyal fan, I am personally delighted that we are in a position to secure the future of the football club. This is a very proud and humbling moment for Clowes Developments.”
American businessman Chris Kirchner had also been interested in buying Derby but recently backed out of his deal to buy the club.
Rooney leaves the Derby | Rosenior appointed interim manager
On Friday, Wayne Rooney resigned as manager of Derby County, admitting the club needs someone with “fresh energy” to guide them through what is an uncertain period regarding ownership.
Rooney received much applause for the work done with the club in their battle to avoid relegation.
Had it not been for the 12-point deduction for going into administration, which was followed by a nine-point penalty for violating EFL accounting rules, the Rams would have finished 18th, tied with Bristol City on 55 points. Instead, despite the efforts of a squad packed with young players, much of it with little or no EFL experience, punishments for off-field problems proved to be a major stumbling block.
Rooney said: “Over the course of the summer, I have been closely following developments around the Derby County property.
“Today I met with the administrators to inform them of my decision that it was time to leave the club. To be fair to them, they tried very hard to change my decision, but it was already decided.”
My time at the club has been a roller coaster of emotions, both high and low, but I have to say that I have enjoyed the challenge.
“I personally feel that the club now needs to be run by someone with fresh energy and who is unaffected by the events that have happened in the last eighteen months. I will look back on my time at Derby with great pride and affection and would like to thank all to my staff, the players and of course the fans for your incredible support, I will never forget you and hope to see you all again in the near future and in happier times.
“Finally, I am aware that the club still has stakeholders who want to take over the running of the club. To them I say this, Derby County is a great club with a great history and great fans. I wish them all the best and much success for the future.”
Liam Rosenior has been appointed as Derby caretaker manager following Rooney’s departure. The team will return to training on Monday to begin preparations for life on Sky Bet League One.
Rosenior has spent the last three years on the Derby coaching staff, initially as First Team Specialist Trainer before moving to Assistant Manager to former manager Wayne Rooney midway through the 2020/21 campaign.