Championship crisis club Derby County now have until the end of February to prove to EFL bosses that they can fulfil the remainder of their fixtures in light of their financial issues
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Derby County have been granted a one-month extension to provide evidence to the EFL that they can afford to complete the season.
Wayne Rooney is doing a miraculous job in the worst of circumstances, keeping his side off the bottom despite a 21-point deduction after being placed into administration by former owner Mel Morris.
However, Rooney’s good work could count for nought with the very existence of the club at risk after 138 years.
The Rams had previously been ordered to give proof by February 1 or face the risk of expulsion from the football league.
But it has now been confirmed that they have until the start of March, giving valuable time to negotiate with interested bidders looking to take over the crisis club.
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A statement released by the EFL on Thursday reads: “Following a formal review of revised financial forecasts at Derby County, the EFL and Quantuma (the Club Administrators) have today agreed a month-long extension to the deadline set for proof of funding to be provided.
“The EFL Board had previously requested evidence by 1 February 2022 of how Derby County was to be financed whilst it remained in administration, alongside a financial plan that determined how the Club would fulfil its fixture commitments until the end of the current season.
“Today’s development will allow the Club to meet its ongoing obligations whilst giving a further four weeks to continue the discussions with the interested bidders and relevant stakeholders in respect of a sale, alongside providing additional time to seek clarity on the claims from Middlesbrough and Wycombe.
“It is appreciated that many people have been waiting to receive an update over the last 48 hours but given the complexity and ever-changing circumstances, our priority has been to provide clarity once there is a definitive position.
“Our commitment as ever remains addressing the many challenges at hand and we will look to provide updates as soon as we are able to.”
Three parties are believed to be interested in buying the club, including former Newcastle United owner Mike Ashley.
The American-based Binnie family have reportedly submitted a £28million bid on the understanding that there could be further liabilities down the line.
They include legal cases launched by EFL rivals Middlesbrough and Wycombe Wanderers, both of whom are looking for damages for how the Rams’ success directly affected their fate.
Derby will now continue the process of finding a preferred bidder and proving to league bosses that they can stay afloat amid running costs of around £1.5m-per-month.
Under Rooney, the Rams have picked up 35 points from 27 games, meaning that with the deduction they stand on 14 points, ahead of Barnsley on goal difference.
On Sunday they host Birmingham City at Pride Park, with the expectation the stadium will be at full capacity for what many had feared could be the club’s final ever game.
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