Derby County's long and protracted takeover saga is finally over after David Clowes completed his purchase of the club.
The deal by local businessman and lifelong Rams fan Clowes brings to an end the club's nine-month stint in administration. During that time Derby have been operating under a transfer embargo and two separate points deductions, totalling a handicap of 21 points, ultimately led to their relegation from the Championship last season.
Supporters are now looking forward to a fresh new chapter after more than 18 months of turbulence on and off the field. Last week saw Wayne Rooney walk out as manager following 17 months in charge.
His assistant Liam Rosenior has been named interim boss and is now in a race against time to put together a squad capable of competing for promotion at the first time of asking.
As it stands, Derby have just a handful of senior players although reports suggest Rosenior is after as many as 10 new signings. Derby begin life in League One with a home game against Oxford United on July 30.
A club statement read: "Quantuma joint administrators, Andrew Hosking, Carl Jackson and Andrew Andronikou are delighted to confirm the completion of the sale of the business and assets of Derby County Football Club (“The Club”) to Derbyshire based property group, Clowes Developments (UK) Ltd (“Clowes”) for an undisclosed amount.
"The transaction sees the Club exit from administration and be brought under the same ownership structure as its stadium, Pride Park."
Joint administrator, Carl Jackson said: “We are very pleased to have achieved today’s sale, in a deal which secures the long-term future of The Club, and one which represents the very best outcome for creditors. I would like to express my sincere thanks to The Club’s staff players and the fans for their loyalty, and patience, as they supported the Club through the administration.”
Joint administrator, Andrew Hosking added: “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 Insolvency Policy and provides the best return for creditors.
"Today signifies a new beginning for the Club, and it enables the Club to move forward into the new season with a clean slate, under local ownership under the stewardship of Clowes.”
