Administrators say Derby County have ‘95% chance’ of rescue

Administrators Carl Jackson and Andrew Hosking of Quantuma
X The Business Desk

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Administrators at stricken Derby County FC have said they are confident of selling the club to a new owner – and that six potential buyers have come forward with a view to making an offer for the Rams.

Speaking at a press conference on Thursday morning (September 23) Carl Jackson and Andrew Hosking, joint administrators from Quantuma, said they consider the Rams to have a “viable future”.

The pair revealed that Quantuma was instructed three weeks ago to conduct a viability review, which the board considered and requested the club be placed into administration.

The 137-year-old club, which according to owner Mel Morris are losing between £1.3m and £1.5m a month, is currently managed by former England captain Wayne Rooney, was one of 12 founder members of the Football League in 1888, and last played in the top flight in 2008.

Hosking said: “We do consider that the club has viable future going forward, but there will be difficult decisions ahead, and we may need to consider efficiencies. However, there is considerable interest in club. We’re hoping for a successful outcome – it won’t be easy, but the obstacles are not insurmountable.”

Hosking added that Covid has had “considerable impact” on the Rams, saying that the funding of club has been reliant on supporters and former owner Mel Morris. He also confirmed that there are a number of creditors who are likely to be requesting payment in the very near future.

Jackson said the cash situation as the club is “extremely tight”. He added: “There is cash, but not enough to keep the club going for three months. We’re looking to take some short-term funding, and we’re in discussion with funders. We’ll be continuing with football fixtures.

When asked if any jobs at Derby County are at risk, Hosking said: “It’s very difficult to say. Would like to make no redundancies, but we have to cut our cloth accordingly. I think there will be a number of redundancies – but we’re not talking about the football squad. And Wayne Rooney will stay.”

On the prospects for the remainder of the season, Jackson added: “There is a possibility there will be further points deductions. However, the EFL want to see Derby County survive. There will be bumps along the road. We undertand what the issues are going to be. We’r here to try and bring forward the rescue of fantastic football club, which is a hugely impressive organisation. Derby County deserves to come out of administration and be a success.”