‘Significant’ issue with ownership of Pride Park stalling takeover deal
A “significant issue” surrounding the ownership of Pride Park Stadium is delaying the the sale of Derby County out of administration, according to the Football League’s ruling body.
The EFL says that although the deal to see the club to US entrepreneur Chris Kirchner is “nearing completion”, the complex situation surrounding the stadium, which is headed by a company controlled by former Rams owner Mel Morris is “the biggest hurdle to overcome”.
Kirchner was revealed as the preferred bidder to take over the club last month. is the 34-year-old founder of a global logistics chain. He first bid for the Rams in December, but pulled out of the race on Christmas Eve. However, he has returned with a fresh bid that will bring the club out of administration.
In a statement yesterday evening (May 5), the EFL said: “The EFL board has today been advised that a deal to take Derby County out of administration and under the ownership of Mr Chris Kirchner is nearing completion.
Evidence of source and sufficiency of funding has now been provided but there still remain a number of outstanding challenges to be resolved.
“As a result, the board has instructed the executive to continue its discussions with Mr Kirchner and his representatives in regard to finalising the terms of a Membership agreement.
“However, a significant issue remains in respect of the status of the stadium and Mr Kirchner continues in dialogue with the relevant parties as to how this can be resolved. It is clear that the complexity associated with this aspect of the transaction is the biggest hurdle to overcome.
“The EFL acknowledges the current time pressures relating to Mr Kirchner’s position as preferred bidder and will seek to conclude matters as soon as possible in line with requirements as set out in the League’s Insolvency Policy.
“The League will be making no further comment at this time.”
Kirchner is expected to be at the Rams’ final game of the season at home to Cardiff tomorrow. The club has been relegated to League One following a 21-point deduction.
