Derby County given another month to resolve future after crunch talks with Football League

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Derby County given another month to resolve future after crunch talks with Football League - PA
Derby County given another month to resolve future after crunch talks with Football League - PA

Derby County have been given another month to resolve their future after detailed talks with the Football League this week.

Quantuma, the administrators, have until March 1 to deliver proof of funds after being granted an extension, with the Championship club still battling to secure a buyer.

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It is understood that Quantuma have raised almost £1 million for February through player departures, including youngster Dylan Williams' sale to Chelsea and the exits of Phil Jagielka and Sam Baldock, contingency on other transfers and television money from the EFL.

However, it is understood that one interested bidder - the group fronted by former Derby chairman Andy Appleby - is seriously considering whether to abandon their interest as frustration deepens over the crisis.

Appleby's group, which also includes former Wolves chief executive Jez Moxey, held advanced talks over a potential takeover last week but are now weighing up the prospect of withdrawing their interest.

Two other parties are in contention to purchase Derby, including former Newcastle owner Mike Ashley and American investors Colin and Adam Binnie.

A joint statement released by Quantuma and the EFL confirmed the month extension and referred to discussions continuing with "relevant stakeholders".

These stakeholders are understood to be HMRC - who are owed almost £30m - and American loan company MSD, who hold a charge on the Pride Park stadium which is still owned by former owner Mel Morris.

Sources have suggested that these remain the other major hurdles to any sale, along with the compensation claims from Middlesbrough and Wycombe.

Derby have been in administration for four months and remain 23rd in the Championship table, after sustaining a 21-point deduction.

The statement read: "Following a formal review of revised financial forecasts at Derby County, the EFL and Quantuma (the Club Administrators) have today agreed a month-long extension to the deadline set for proof of funding to be provided.

"The EFL Board had previously requested evidence by 1 February 2022 of how Derby County was to be financed whilst it remained in administration, alongside a financial plan that determined how the club would fulfil its fixture commitments until the end of the current season.

"Today’s development will allow the club to meet its ongoing obligations whilst giving a further four weeks to continue the discussions with the interested bidders and relevant stakeholders in respect of a sale, alongside providing additional time to seek clarity on the claims from Middlesbrough and Wycombe.

"It is appreciated that many people have been waiting to receive an update over the last 48 hours but given the complexity and ever-changing circumstances, our priority has been to provide clarity once there is a definitive position.

"Our commitment as ever remains addressing the many challenges at hand and we will look to provide updates as soon as we are able to."