Clowes takes control of Rams as deal for club is secured
Derby County has finally been sold out of administration after the deal to buy the club was finalised.
Derbyshire-based Clowes Developments are the new owners of the League One Rams, it has been confirmed on Friday evening (July 1).
The transaction sees the club exit from administration and be brought under the same ownership structure as its stadium, Pride Park.
Joint administrator, Carl Jackson said: “We are very pleased to have achieved today’s sale, in a deal which secures the long-term future of the club, and one which represents the very best outcome for creditors. I would like to express my sincere thanks to the club’s staff players and the fans for their loyalty, and patience, as they supported the club through the administration.”
Joint administrator, Andrew Hosking added: “The level of complexity involved in bringing this matter to a conclusion has been unparalleled and we are grateful to all stakeholders and their advisers, for their hard work which has enabled us to overcome a magnitude of challenges, and allow the rescue of this historic club.
“This deal represents a real milestone in the long and illustrious history of Derby County, and one which marks the end of the uncertainty experienced by supporters and the wider community whilst the club has been in administration and also importantly is one which complies with the EFL Insolvency Policy and provides the best return for creditors. Today signifies a new beginning for the club, and it enables the club to move forward into the new season with a clean slate, under local ownership under the stewardship of Clowes.”
Councillor Chris Poulter, Leader of Derby City Council has commented, saying; “This news is monumental. A buyer from Derby, doing it for Derby – we can’t ask for more than that.
“Derby County FC is at the beating heart of our city and its communities. It plays a huge part in the social, economic and cultural fabric of the city. A new owner will bring clear leadership, and a vision for the club’s future, and as a proud Derby fan himself, David is a fantastic choice to bring that to fruition. To see the purchase of the Club and the stadium together is also good news.
“The Council already boasts a close working relationship with David, and Clowes Developments – a Derby business – on a number of key projects in the city, and we look forward to cementing our partnership working with them in this new arena.
“Alongside fans, Team Derby has worked tirelessly to ensure the survival of the club, and has shared the ups and downs of the journey so far. After what has been a turbulent few months, supporters – ourselves included – are extremely hopeful. It’s now time for us to come together and work towards the long-term stability of the club.
“We thank the fans, communities, and businesses, whose passion continues to bring an incredible energy and profile to the club and its future.”
The joint administrators were advised by the Law Firm Pinsent Masons with a team, led by partner, Steve Cottee. The buyers were advised by a team led by Simon Taylor at Gateley Legal.