Chris Kirchner is confident he still intends to make a deal to buy Derby County despite some missed deadlines for paying the purchase money. Sky Sports News can detect.
Kirchner no longer has the franchise to try to complete a purchase after missing Friday’s 5pm deadline set by club administrators.
He reportedly told Quantuma, the directors, that the money to buy the club had been deposited in a European bank account, pending the completion of money laundering checks.
Kirchner has changed his plans to return to America and will stay in the UK to finalize a deal.
Sky Sports News can confirm that Kirchner is one of five parties still interested in buying Derby – former Wolves owner Steve Morgan has now withdrawn his interest.
Former Derby chairman Andy Appleby is in renewed negotiations with Quantuma, but is trying to find investors who will commit to investing.
Ashley remains interested, but ‘disappointed’ with the directors
Former Newcastle owner Mike Ashley has the money to buy the club himself and is still determined to buy, but says he is being ignored by directors, while two other groups, still unknown, are also involved in the tender process. . .
Ashley has contacted Derby’s administrators, Quantuma, through his attorneys and said he “remains ready and willing to make transactions”.
Ashley, who has been eager to buy Derby since October after the sale of Newcastle, has made offers as part of the sale process but has not received any response from Quantuma for some time.
A letter sent to Quantuma’s lawyers on Ashley’s behalf says he was “disappointed by this [he] sees it as the failure of co-directors to engage constructively “during the process.
He adds that Ashley does not want to be “treated as an emergency measure and would require some form of security” from administrators before entering into further discussions on the sale of Derby.
All the delays have led to an increase in debt in Derby books, which means the club’s asking price continues to rise.
The starting price, in the ‘twenty million dollars’ range, is now expected to reach milionë 30 million, with Pride Park’s option to buy adding around milionë 22 million to that figure.
A price tag of over milionë 50 million is more than any investor would pay to buy many Championship clubs. But Derby, despite being relegated to League One, is believed to remain a very attractive proposition due to its large fan base and market potential in the future.
Update of joint administrators
A spokesman for Derby County Football Club’s confidants (Club) said: “Following their update yesterday, June 10, 2022, confidants are concerned about the growing number of inaccurate reporting of circumstances related to a takeover of the club.
“The level of inaccuracies reported is divisive and unnecessarily fuels both gossip and growing anxiety, insecurity and resentment among supporters. The co-administrators are deeply disappointed that this has led to a tirade of baseless abuses against the co-administrators and their staff.
“Joint administrators want to clarify a number of inaccuracies reported as follows:
“The co-directors confirm that to date they have not received any payment for their work, and have indeed accumulated significant disbursements which the company is currently funding.
“The joint administrations want to confirm that they are engaging with a number of parties that have expressed a desire to buy the Club. As confirmed in yesterday’s update, Mr. Kirchner is one such party, as he continues to seek to provide us with satisfactory information. proof that he is able to finalize the acquisition of the Club. At this point, the joint administrators will not nominate any of the other parties they are engaging with. However, they understand that some of these parties may want to make their agreement public.
“The co-directors also want to confirm the process set for the parties who want to buy the Club. Co-administrators launch a competitive bidding process. Offers should be the best and final and should not contain reference materials. Of course, any offer is subject to stakeholders entering into an NDA, entering the data room, and taking proper care of themselves. Of the parties we engage with, some are ahead in this process than others.
“In early May 2022, and before identifying a preferred bidder, an interested party was informed that their unfounded bid was at such a low level that it simply could not be accepted as it would not be in line with The policy for football creditors would not even be in line with the EFL ‘s exit policy, which is required for membership. later in late May, which we could not attend because, at the stage, we were in a period of exclusivity with Mr. Kirchner, the same party was contacted by the Joint Administrators within the last 48 hours.
“Co-administrators want to ensure that all parties and supporters do not discriminate against any party if a candidacy is achievable and credible.
“While we appreciate that this week’s events affect communities, staff and fans, we urge the media and social forums to show caution and not make false assumptions. Joint administrators are discussing with lawyers how to deal with some inaccurate recently published articles. »