The troubled Rams have been in administration since last September and are desperately looking for a takeover to be given the green light and signal a fresh start for the club
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Wayne Rooney reacts to Derby relegation
Derby County’s long and protracted takeover saga was never likely to come to a hassle-free resolution.
The club, which entered administration last September and encountered a myriad of off-field issues, is being taken over by American businessman Chris Kirchner. But it has been far from straightforward with numerous hurdles to overcome.
Now, a law firm heavily involved in the negotiations has said the deal is among the “most complex” it has ever been privy to. Squire Patton Boggs have previously worked on deals involving Manchester City, Aston Villa and Wolves.
David Hull, who is the firm’s corporate partner, said: “We are delighted to have supported Chris Kirchner in a deal that will hopefully secure the future of Derby County Football Club.
“This is the most complex, high-stakes football transaction that we have advised on, with the separation of the ownership of Pride Park from the club one of a number of issues to navigate in structuring the deal. The desire and co-operation of all stakeholders who are working hard to get this deal over the line will enable the club to move on and look ahead to next season and its long-term future.”
The English Football League ( EFL ) this week said that they have given Kirchner approval but it now hinges on him agreeing a deal with regards the club’s stadium.
Pride Park, the club’s home ground ever since its opening in 1997, is owned by former Derby chairman Mel Morris. In order for any takeover to get the final seal of approval, a deal would have to be reached that would see the ground either purchased outright from Morris or a lease agreement thrashed out.
Team Derby, a group which includes local politicians, is continuing talks over the ground with the date of Tuesday, May 31 being the target date for completion.
Earlier this week Kirchner provided a substantial update. Writing on Twitter, he said: “I’ve been beyond fortunate and I’ll never forget how lucky I am. I’ve had the opportunity to realise many of my dreams and even a lot of things beyond my dreams. Today is a day I’ll never forget. I’m humbled and excited to share that we’ve exchanged contracts with Quantuma and I will be the next owner of Derby County Football Club.
“These contracts are conditional on the sale of the stadium and some small bits. I don’t anticipate any issues completing the rest of this process in the coming days. I’ll begin funding the club next week.”
An EFL statement issued on Tuesday read: “The EFL Board has today given its conditional approval to the proposed acquisition of Derby County Football Club by the company controlled by Mr Chris Kirchner (9CK Sports Holdings Limited).
“The EFL and 9CK Sports Holdings Limited have agreed the terms of a Membership Agreement which will govern the conditions attached to the transfer of the share in the EFL and which ultimately will see the Club exit Administration.”
Manager Wayne Rooney is in desperate need of clarity so that he can begin properly begin planning for life in League One next term, following relegation from the Championship.
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