Derby County: EFL asking for proof of how the club will be funded for the rest of the season

Quantuma administrators have been looking for a buyer since September

Derby County trustees have been asked to show the English Football League how they intend to fund the club until the end of the season.

A meeting of the EFL board decided to try to clarify the situation.

Although manager Wayne Rooney has said he expects a preferred bidder to be named by the end of this week, the latest situation has meant that has not happened.

Former owner of Newcastle mike ashley and a consortium including the former Rams chairman Andy Appleby remain in the lead.

A statement from the EFL said: “Following its board meeting on Thursday 13 January, the EFL has written to the trustees to reiterate that it urgently requires confirmation from the how they intend to negotiate while Derby County remains in administration, including a funding plan that will allow the club to meet its fixtures obligations until the end of the current season.

“Without this visibility, the League is unable to approve player signings or renew existing registrations and this position had been communicated to the club prior to yesterday’s meeting.”

Quantuma’s directors said they were unable to finalize funding for the club immediately, although three parties had made offers, but they believed it would be finalized in the coming weeks.

“The joint administrators have an exit plan ready to be implemented and to be approved by the creditors and this with the aim of adjusting the offers received to take account of the EFL’s insolvency policy and their requirements. to creditors,” a statement from Quantuma said.

“The difficulty and currently, in our view, the last significant hurdle remaining is to deal with certain claims which are highly contested but advised to us by the EFL cannot currently be compromised notwithstanding the law provides otherwise.

“While we accept that this is frustrating for all, none of the interested parties are in a position to move things forward until an agreement can be reached.

“We urgently seek clarification from the EFL as to why these disputed claims cannot be compromised.”

Jagielka leaves Pride Park

Without proof of funds, Derby are not allowed to sign players, so an extension to former England defender Phil Jagielka’s contract, which was due to expire on January 17, cannot be completed and he has left the club.

It is understood that Stoke are now close to signing him.

The 39-year-old has made 21 appearances for The Rams and Rooney is said to be furious at his departure.

“Discussions have been ongoing with Jagielka to extend his stay at Pride Park Stadium for the past few weeks, but due to club restrictions he has unfortunately been unable to put pen to paper,” a statement said. club statement.

Phil Jagelka
Phil Jagielka has played over 600 league games in his career and won 40 England caps.

Hopes of a takeover deal are hampered by ongoing court cases against Derby involving Middlesbrough and Wycombe.

Should these end up going against the club, any compensation would be considered a “football” debt and would have to be paid in full.

It is understood that none of the potential bidders are willing to accept Derby without some clarity on this issue, and the EFL have suggested that negotiating a deal with Middlesbrough and Wycombe may be the best way forward.

Rams Trust wants a ‘straightforward’ update

Derby administrators Quantuma can currently only generate funds by selling players or if a preferred bidder expresses a willingness to invest their money in the club.

Derby refused this Rooney called ‘ridiculous’ offers for players earlier this week.

However, some Championship rivals are said to be unhappy with the rejection of the offers – at the same time as Derby are negotiating a deal with HMRC which will see more than £20million unpaid, out of a global bill of £28million.

It is not yet known whether any party will be willing to pay non-football creditors 25% of the sums owed. Unless that happens, Derby will be deducted 15 points next season.

The Rams are bottom of the championship with 11 points, another 11 safeties.

The Derby Rams Trust supporters group have demanded a ‘full, candid and immediate update’ on the administrators’ situation.

“The time for supporters to be kept in the dark is over, particularly with what appears to be a serious threat to the very existence of Derby County FC,” the group said in a statement.