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Derby County: Chris Kirchner withdraws offer to buy League One club | football news

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Derby administrators have confirmed that American businessman Chris Kirchner has withdrawn from his deal to buy the club.

Concerns about the future of the club have increased since Kirchner, who exchanged contracts promising to buy the club on May 16, failed to transfer the necessary cash by Friday’s deadline.

The EFL had written to administrators, Quantuma, expressing real concern that Derby will be unable to field a team next season, “putting the integrity of the competition at risk”.

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Sky sports news understands that Kirchner’s withdrawal has come as a shock to the EFL and Quantuma, who had been given assurances on Sunday that Kirchner was determined to complete the sale.

He again showed proof of funds to both parties.

An update from the Derby County Joint Trustees was issued Monday night, confirming the businessman’s retirement.

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Backing financing could be available for Derby, which is managed by Wayne Rooney.

A spokesman said: “We are aware that some will be concerned by this news, however the joint administrators wish to reassure the club’s staff, players and supporters that they continue to be actively engaged with a growing number of stakeholders, each of whom have a real willingness to complete a deal as soon as possible.

“The Joint Managers would remind all interested parties of the current process for those parties wishing to acquire The Club. The Joint Managers are conducting a competitive bidding process. Offers must be the best and final and not contain any elements of reference “Clearly, any offering is subject to interested parties entering into an NDA, accessing the data room and conducting their own due diligence. Of the parties we engage with, some are further along in this process than others.” .

An EFL spokesperson also said that they remain committed to “proactively working together with the Club Directors…as they continue to engage with various stakeholders so that the goal of concluding a sale is achieved as soon as possible.”

Ashley among groups willing to prevent Derby liquidation

MIKE ASHLEY DERBY
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Former Newcastle owner Mike Ashley has money to buy Derby

Mike Ashley is among a number of businessmen who could step in to prevent Derby County from being liquidated.

League organizers have taken what is believed to be an unprecedented step, informing joint administrators that they must be directly involved in negotiations with potential Derby bidders.

Quantuma is understood to have seen evidence of funding from at least five groups still wanting to buy the club, including former Newcastle owner Ashley and former Derby chairman Andy Appleby.

Sky sports news has been told that while the priority is to complete a club acquisition well before next season’s fixtures are released, there is a possibility that “back-up” funds could be made available for Derby to assemble a team and comply with their parties in case that process is delayed.

What does Kirchner’s retirement mean for the Derby?

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After Chris Kirchner withdrew his bid to acquire Derby County, Rob Dorsett says there are still four more interested in buying the club.

Sky Sports Senior Reporter Rob Dorsett said:

“We’ve used that awful word liquidation on a number of occasions throughout this process, since Derby went into administration in September.

“You have to say that it has never felt closer than it does now. What I will say is that I have received assurances from many top officials who have told me that although this offer failed, there are a number of other interested parties.” parties.

“Other than that, there are plenty of wealthy people, successful entrepreneurs, who will not let Derby fail. They will step in at short notice if necessary.”

“The preferred bidder, the leading man, the man who has traded contracts committing to buy Derby County has now withdrawn his offer to do so.

“Yes, it is a major blow, but the administrators are not scared. Kirchner was the man they chose to do this business, but he has not been able to do it. He has missed several deadlines.

“Now it’s finally out of the running. Other interested parties will now move forward and will be given much more attention by the Derby administrators.”

“One we know of is Mike Ashley – his is probably the lowest offer, but one of the safest and most credible.”

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