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Birmingham Post
Birmingham Post
Business
Tom Pegden

Administrators hope to finalise Derby County sale today after confirming payment has been made

Derby County’s administrators hope to be able to strike a deal with a buyer for the club today.

Derbyshire construction giant Clowes Developments had been given until yesterday (June 29) to sign off a deal for the business.

It has now provided the cash to finalise a deal, although a few issues still remain and has been given an extension until today to finish everything off.

Clowes submitted a formal plan to buy the Rams at the end of last week, having bought the Pride Park stadium a week earlier and having also provided a loan to tide the club over.

Administrators Quantuma said they hoped the deal would see no more points deducted from Derby after the club was relegated from the Championship having had 21 points taken away because of its financial problems.

In a Wednesday night update a spokeswoman for the administrators said: “All parties involved in the sale of the club have been working very hard together since last weekend to complete this extremely complex transaction.

“A small number of outstanding matters remain, and these matters are outside of the control of the joint administrators and Clowes Developments (UK) Limited.

“It is our expectation that these will be finalised tomorrow, Thursday 30 June, allowing the transaction to complete then.

“The joint administrators would like to reassure staff, players and supporters that they are in receipt of completion monies from Clowes Developments (UK) Ltd, and the outstanding issues require a short amount of additional time to be finalised.”

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