Derby County FC Saved As Takeover Deal Is Completed

Quantuma joint administrators, Andrew Hosking, Carl Jackson and Andrew Andronikou are delighted to confirm the completion of the sale of the business and assets of Derby County Football Club (“The Club”) to Derbyshire based property group, Clowes Developments (UK) Ltd (“Clowes”) for an undisclosed amount.

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.”

The joint administrators were advised by the Law Firm Pinsent Masons with a team, led by partner, Steve Cottee.

David Clowes penned an Open Letter following the announcement:-

It is with an immense sense of pride that I write to you having finalised our agreement to buy Derby County and end nine months of uncertainty and fear over the future of our club.

As a lifelong supporter, I could not stand by as the risk of losing Derby County became all too real. I could not have looked myself in the mirror if I had not done everything possible to protect it. That is why it is so exciting to be part of the process of building a fresh future at Pride Park for the fans and loyal club staff who have been through so much.

The true spirit of this football club rests with the fans, it is nothing without them. Your support throughout some difficult times has been inspirational and we intend to build on that loyalty.

The decision to get involved with the purchase of the stadium, and subsequently the club, has not been an easy one. As a private person, I did not want the publicity and would prefer to remain an anonymous supporter watching the team from my usual seat. However, if that is the price to secure the future of the club, then so be it.

I won’t be making any extravagant promises, however I can confirm my intentions. My focus now is to stabilise the football club in every department and to make sure we have the foundations in place for success, however long that takes.

We intend to bring the same principles to Derby County that we believe have been the reasons behind the success of Clowes Developments. We are embedded in the heart of the community, and we recognise what is important to the people of Derby – integrity, transparency, and a straightforward way of doing business.

To those people who have worked tirelessly at the club in the most difficult of circumstances, I offer my sincere thanks. My team and I will be doing our best to get to know you all and listen to what you have to say from the outset.

We have to maintain a degree of continuity because there is no point walking into an institution that has been here for 138 years and having the arrogance to think we possess all the answers. My team will work with people, listen, and learn before coming to any decisions.

Circumstances dictated that our ownership bid was swift and that means we will be taking the proper amount of time to assess how the club operates and any changes we might need to make.

What I will say, is that the playing side of the club will receive every support possible. It’s vital we start work on recruitment immediately and, for that, we will rely on the expertise of the existing staff as well as bringing in a support structure to help them move as quickly as possible to build a side that will be competitive in time for the new season.

We are also committed to maintaining a Category One academy. The club’s track record of producing talent is outstanding, and we intend to protect that proud legacy because we believe in the future of Derby County at every level including the Community Trust and, of course, Derby County Women.

Words, I know, are cheap and so, going forward, we intend to be judged by our actions.

Alongside my team, I will be doing everything in my power to make Derby County safe, secure, and successful for many generations to come.

Thank you

David Clowes

Owner, Derby County Football Club

Images Credit: Derby County Football Club