Derby County bought out of administration

Along with the club, Clowes’ firm Clowes Developments has purchased its stadium Pride Park from former owner Mel Morris. 

In an open letter published on the club’s website, Clowes said: “As a lifelong supporter, I could not stand by as the risk of losing Derby County became all too real. I could not have looked at myself in the mirror if I had not done everything possible to protect it. 

“That is why it is so exciting to be part of the process of building a fresh future at Pride Park for the fans and loyal club staff who have been through so much. The spirit of this football club rests with the fans, it is nothing without them. 

“Your support throughout some difficult times has been inspirational and we intend to build on that loyalty.” 

The club fell into administration towards the end of September 2021 and has been subject to a number of failed takeover bids, most notably by American businessman Chris Kirchner. The owner of logistics technology firm Slync.io was named the preferred bidder in April, but lost this status after failing to complete a deal to purchase the club in June. 

Towards the end of that month, Clowes emerged as the frontrunner to purchase the club - confirming that he’d also buy Pride Park. 

The transaction sees the club exit from administration and be brought under the same ownership structure as its stadium. 

Commenting on the news, Andrew Hosking - one of the joint administrators from administrator Quantuma - said: “The level of complexity involved in bringing this matter to a conclusion has been unparalleled and we are grateful to all stakeholders and their advisers, for their hard work which has enabled us to overcome a magnitude of challenges, and allow the rescue of this historic club. 

“This deal represents a real milestone in the long and illustrious history of Derby County, and one which marks the end of the uncertainty experienced by supporters and the wider community whilst the club has been in administration and also importantly is one which complies with the EFL [English Football League] insolvency policy and provides the best return for creditors.” 

The English Football League (EFL) has welcomed the news, and can confirm the club has met the requirements of the league’s regulations and insolvency policy and is therefore no longer in administration with the notice of withdrawal also being cancelled. 

As part of the conditions of continuing membership in the EFL, the club - whilst remaining under a registration embargo - will be permitted to sign new players in accordance with the terms of a business plan. 

The plan - which has been jointly agreed upon by the new ownership and the EFL - includes restrictions in respect of transfer fees, player wages and agents’ fees. Any application to register players must comply with the terms of those plans. 

Commenting on the news, the EFL’s chief executive Trevor Birch said: “These past nine months have been a worrying and challenging time for everybody connected with the club, particularly the staff and supporters who have been forced to endure much uncertainty.

“This administration has presented all relevant parties with many and varied challenges, but with the new ownership now in place, the club and local community can hopefully now look to the future with a renewed sense of optimism.

“Throughout this process, it has been frustrating to read a great deal of misleading comments from some people which have either fundamentally misunderstood the remit of the EFL or have misrepresented what the league’s role in the process has been.

“At all times the EFL’s focus has been on securing the future of Derby County whilst ensuring the requirements of our regulations and insolvency policy are met alongside acting in the best interests of all 72 members of the league.

“I would like to wish everybody at the club, in particular the new ownership and their associates, all the very best for a long and sustainable future and we look forward to working closely together as we head into season 2022/23 and beyond.”