Clowes Development have completed a takeover of Derby County which sees the League One club exit administration.
Derby fell into administration in September 2021 but since encountered financial and legal difficulties under administrators, Quantuma, who had to sort out various issues including dealing with a legal complaint from Middlesbrough.
Quantuma eventually found a buyer – Chris Kirchner but the deal broke down in early June which led to renewed discussions with other interested parties, whilst Derby’s home stadium – Pride Park was sold to Clowes Development last week.
Clowes Developments then proceeded to submit a bid for Derby County Football Club which led the English Football League (EFL) to launch an Owners and Directors’ Test, in order to assess their ‘ultimate source and sufficiency of funding to support the proposed business plan for the Club.’
EFL have since reviewed Clowes Development’s test and passed them as fit to complete their takeover, which has enabled the club to move out of administration following confirmation that Quantuma have transferred Derby’s assets to Clowes’ Developments.
Joint administrator – Carl Jackson spoke on behalf of Quantuma as he stated that they were “very pleased” to complete the sale of Derby and secure the club’s future, whilst securing a positive outcome for creditors.
Jackson also praised those within the club for their support despite suffering relegation to League One at end of last season, as he added: “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.”
New owner, David Clowes meanwhile issued an open letter to club supporters in which he spoke of feeling “immense sense of pride” to have completed the takeover and end “uncertainty” over the Rams’ future.
A lifelong Derby supporter, Clowes added that he refused to stand by and let the club potentially slip away as he pledges to build “a fresh future” for the club staff and fans who epitomise the “true spirit” of the club as he vowed to build on their loyalty.
With Derby facing life in the third-tier of English Football for the first time since 1985-86 season, Clowes iterated that he won’t make “extravagant promises,” but revealed that his priority is to stabilise every department within the club first and lay down foundations for success.
Clowes proceeded to vow that “continuity” will be important to paving out the club’s future path with no plans for radical revamps, with the playing men’s and women’s teams all receiving support in order to be competitive this season.
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