Derby’s takeover by local property developer David Clowes suffers further delay due to the ‘extremely complex’ nature of the sale and a ‘multitude of documents’ that the Rams still need to sign off
- The ‘extremely complex’ nature of Derby’s sale has caused a delay to the sale
- Derby had expected to complete their takeover by David Clowes on Thursday
- However, a ‘multitude of documents’ has caused further issues to the takeover
- Local businessman David Clowes jumped in when Chris Kirchner bid collapsed
The ‘extremely complex’ nature of Derby’s sale has caused another delay to the takeover by local property developer David Clowes.
A deal was expected to be concluded on Thursday but the joint administrators said due to the ‘multitude of documents’ which need to be signed off meant the process was taking longer.
‘The joint administrators, EFL, Clowes Developments (UK) Ltd and their advisors have worked throughout the day to resolve the small numbers of outstanding issues in order to complete this extremely complex transaction,’ said a statement from Quantuma.
‘All parties acknowledge the frustration caused by these further delays and would like to thank supporters for their ongoing patience, as we collectively continue to work towards finalising this transaction.’
The club had expected to have finalised the deal by now after Quantuma announced on Sunday they had formally accepted Clowes’ offer to buy the beleaguered Sky Bet League One club.
That target date has now slipped slightly due to the complexities involved but there is confidence remaining issues will soon be resolved.
Derby’s expected takeover has suffered a further delay due to the ‘extremely complex’ deal
At the start of the week, a spokesperson on behalf of Quantuma suggested that the deal would be complete by Thursday at the latest.
The statement 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 June 30, allowing the transaction to complete then.’
Joint administrators said they ‘acknowledge the frustration caused by these further delays’
Clowes, via his company Clowes Developments, emerged as the potential new owner of the Rams after American businessman Chris Kirchner withdrew his offer to buy the club.
The Derby-based property developer had already concluded a deal to acquire Pride Park from the former owner Mel Morris, when he was declared the preferred bidder to take over the Rams, last week.
Derby have been in administration since last year and were relegated from the Sky Bet Championship last season after having 21 points deducted.
Derby County, its players, fans and staff have suffered a roller coaster rides since September