Could the Derby County takeover saga becoming to a end ?
The administrators Quantama have named Chris Kirchner as preferential bidder, after his
bid was accepted for the club.
Kirchner put in a bid before Christmas for Derby County, but then pulled out & turned his
attention to another championship club.
[ Kirchner turned his attention to championship club Preston North End, but his bid to buy
the club came to a end last week, after parties could not reach a agreement ].
So Kirchner turned his attention back to buying Derby County Football Club.
With Quantama naming Kirchner has the preferred bidder for the club, in which Kirchner's
accountants will have exclusivity in accessing all the clubs confidential accounts, & give
Kirchner preferential status to complete a takeover of the club, which could take 2 months
at least.
Kirchner's accountants will study Derby County finances, which will then need further
negotiations with creditors, to clear the clubs debts.
Football creditors - [Must be paid in full , otherwise the EFL will impose a points penalty,
for the start of next season, with a 15 point penalty being mentioned].
The non football creditors - [Are likely to only get a proportion of what they are owed, the
EFL said at one point, that it had to be 25p in the pound].
HMRC - [Unlikely to accept greater reduced payments, on what they are owed].
Players registrations - Derby County sale to Kirchner will have to prove the agreement
provides financial proof, that the club can continue as an operating football club, if they
prove this, then the ban on player registrations at the club could be lifted.
Transfer payments to other clubs for players - Derby County bought Bielik from Arsenal
on a payment scheme, Arsenal froze the payments to help Derby County, so still a amount
owed to Arsenal, so the new owner picks this bill up.
Kamil Jozwiak was bought on a payment scheme & sold, whether Derby County paid the
outstanding payment on the player, nothing reported.
Companies House - Documents submitted to Companies House, show Derby County made
a loss of £1.2m during the first 2 months of administration.
Derby County officially entered administration 22 September 2021, points deduction 12pts,
plus later a further 9pts penalty for breaching financial fair play rules.
Companies House - Quantuma the administrators of Derby County, filed a report to companies
House, Quantuma estimate fees of £1.5m plus expenses £1.24m legal costs £1.1m
Mel Morris did say when he hired Quantuma, that he would cover the costs.
Pride Park - Derby County Football Stadium
The ground is not included in the sale, Mel Morris is open to Kirchner leasing or buying the
stadium from him, the ground being owned by one of Mel Morris other companies, but
Morris has a £20m loan on the ground.
Mentioned - Council buying the football stadium.
Interested parties - Been said that Mike Ashley still interested in buying the club.
One twist - Mel Morris could buy the club, through one of his other companies, in which
he would benefit.
This by only paying the 25p in the pound to ordinary creditors, so saving £15m on £20m
owed for instance.
Funny old game, is football.
I was asked to do a Derby County follow up.