The deal to take Derby County out of administration and under the ownership of American businessman Chris Kirchner is nearing completion, according to the EFL Board.
In a newly released statement, the EFL noted that evidence of source and sufficiency of funding has now been provided, but there still remain a number of outstanding challenges to be resolved. The Board has instructed the Executive to continue its discussions with Kirchner in regard to finalising the terms of a Membership agreement.
A significant issue highlighted is the status of the stadium. The EFL said: “It is clear that the complexity associated with this aspect of the transaction is the biggest hurdle to overcome.” Kirchner continues in dialogue with the relevant parties as to how this can be resolved.
The joint administrators of Derby County, Quantuma, named Kirchner as the preferred bidder for the club last month, after the businessman had initially expressed an interest in acquiring the club in late 2021. Quantuma noted that the bid is for the purchase of the football club only, with the terms of the club’s ongoing occupation of Pride Park stadium to be negotiated with external stakeholders.
The EFL’s statement said: “The EFL Board has today been advised that a deal to take Derby County out of administration and under the ownership of Mr Chris Kirchner is nearing completion.
“Evidence of source and sufficiency of funding has now been provided but there still remain a number of outstanding challenges to be resolved.
“As a result, the Board has instructed the Executive to continue its discussions with Mr Kirchner and his representatives in regard to finalising the terms of a Membership agreement.
“However, a significant issue remains in respect of the status of the stadium and Mr Kirchner continues in dialogue with the relevant parties as to how this can be resolved. It is clear that the complexity associated with this aspect of the transaction is the biggest hurdle to overcome.
“The EFL acknowledges the current time pressures relating to Mr Kirchner’s position as preferred bidder and will seek to conclude matters as soon as possible in line with requirements as set out in the League’s Insolvency Policy.
“The League will be making no further comment at this time.”
