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‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Surprising. Before the season began, I wouldn't have expected them to have as many.
EFL STATEMENT: DERBY COUNTY (16TH SEPTEMBER 2021)
In response to ongoing media speculation, the EFL wishes to clarify that discussions with Derby County in respect of outstanding Profitability and Sustainability (P&S) matters are continuing and no decision has yet been reached.
On 2 July 2021, an Independent Disciplinary Commission found in favour of the EFL in respect of its challenge to the Club’s policy on amortising player registrations. The Club received a £100,000 financial penalty, a reprimand as to its future behaviour and ordered to submit revised accounts for the years ended 30 June 2016, 2017, and 2018.
In an attempt to resolve all remaining issues with the EFL in regard to its P&S submissions the Club provided the EFL with information prior to last month’s deadline and this remains under review by the League’s Executive.
In any disciplinary matter, the EFL will always consider whether it can be concluded by way of an Agreed Decision as per EFL Regulation 85. An Agreed Decision, which is subject to independent ratification, is deemed appropriate in circumstances which justify the conclusion of an effective and equitable resolution without a referral to a Disciplinary Commission.
There are no timescales for this matter to be concluded and the League will not be providing any further comment at this time.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
In response to ongoing media speculation, the EFL wishes to clarify that discussions with Derby County in respect of outstanding Profitability and Sustainability (P&S) matters are continuing and no decision has yet been reached.
On 2 July 2021, an Independent Disciplinary Commission found in favour of the EFL in respect of its challenge to the Club’s policy on amortising player registrations. The Club received a £100,000 financial penalty, a reprimand as to its future behaviour and ordered to submit revised accounts for the years ended 30 June 2016, 2017, and 2018.
In an attempt to resolve all remaining issues with the EFL in regard to its P&S submissions the Club provided the EFL with information prior to last month’s deadline and this remains under review by the League’s Executive.
In any disciplinary matter, the EFL will always consider whether it can be concluded by way of an Agreed Decision as per EFL Regulation 85. An Agreed Decision, which is subject to independent ratification, is deemed appropriate in circumstances which justify the conclusion of an effective and equitable resolution without a referral to a Disciplinary Commission.
There are no timescales for this matter to be concluded and the League will not be providing any further comment at this time.
Derby County: Championship club file notice to appoint administrators
Derby County are set to go into administration amid their continued financial problems.
The club, which is up for sale, said despite negotiations with a number of "credible parties", identifying a buyer was unlikely in the short term.
It means they could face a 12-point deduction in the Championship.
In a statement the Rams said Covid-19 had a "severe impact" on revenues and they "had no choice" but to appoint administrators to protect the club.
It claims the pandemic has cost them around £20m in lost revenue and left them "unable to service its day-to-day financial obligations".
"We cannot stress enough how devastating it is to be forced into this position," the board's statement said.
"This season, Covid-19 has continued to have a negative effect on revenues.
"Unlike other sectors, football has been able to only marginally reduce its cost base with the majority of outgoings being associated with playing staff who obviously could not be furloughed."
Derby, managed by former England captain Wayne Rooney, are 16th in the table with seven points from their first seven matches.
Rams already facing points loss
Their accounts for 2016, 2017 and 2018 are already being re-examined after they were found to have broken accounting rules and they could face more points deductions for that.
The Rams have been fined £100,000 and reprimanded in July by the English Football League for that breach.
The EFL are yet to comment on Derby's intention to appoint administrators.
Derby owner Mel Morris has been trying to sell the club since June 2019, but has already had two prospective sales fall through.
In March Derventio Holdings, who were backed by the Abu Dhabi-based Bin Zayed Group, saw their takeover bid end while another from Spanish businessman Erik Alonso was called off in May.
The Rams have been under a transfer embargo since before the summer window opened, meaning Rooney was only allowed to sign free agents with strict conditions on salaries.
On the field, the Rams have won just one of their seven league matches this season and drawn four, leaving them two points above the relegation zone.
Derby narrowly avoided relegation to League One last season by a point when they drew against Sheffield Wednesday in their final match.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County: Championship club file notice to appoint administrators
Derby County are set to go into administration amid their continued financial problems.
The club, which is up for sale, said despite negotiations with a number of "credible parties", identifying a buyer was unlikely in the short term.
It means they could face a 12-point deduction in the Championship.
In a statement the Rams said Covid-19 had a "severe impact" on revenues and they "had no choice" but to appoint administrators to protect the club.
It claims the pandemic has cost them around £20m in lost revenue and left them "unable to service its day-to-day financial obligations".
"We cannot stress enough how devastating it is to be forced into this position," the board's statement said.
"This season, Covid-19 has continued to have a negative effect on revenues.
"Unlike other sectors, football has been able to only marginally reduce its cost base with the majority of outgoings being associated with playing staff who obviously could not be furloughed."
Derby, managed by former England captain Wayne Rooney, are 16th in the table with seven points from their first seven matches.
Rams already facing points loss
Their accounts for 2016, 2017 and 2018 are already being re-examined after they were found to have broken accounting rules and they could face more points deductions for that.
The Rams have been fined £100,000 and reprimanded in July by the English Football League for that breach.
The EFL are yet to comment on Derby's intention to appoint administrators.
Derby owner Mel Morris has been trying to sell the club since June 2019, but has already had two prospective sales fall through.
In March Derventio Holdings, who were backed by the Abu Dhabi-based Bin Zayed Group, saw their takeover bid end while another from Spanish businessman Erik Alonso was called off in May.
The Rams have been under a transfer embargo since before the summer window opened, meaning Rooney was only allowed to sign free agents with strict conditions on salaries.
On the field, the Rams have won just one of their seven league matches this season and drawn four, leaving them two points above the relegation zone.
Derby narrowly avoided relegation to League One last season by a point when they drew against Sheffield Wednesday in their final match.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
⚫ ‘I’ve never seen a club behave so poorly for so long’ - EFL executive ⚪ Squad found out from club statement ⚫ Rooney expected to stay ⚪ Will cost more than £50m to clear #DCFC debts, with tax bill alone approaching £30m
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
⚫ ‘I’ve never seen a club behave so poorly for so long’ - EFL executive ⚪ Squad found out from club statement ⚫ Rooney expected to stay ⚪ Will cost more than £50m to clear #DCFC debts, with tax bill alone approaching £30m
Derby County officially enter administration and are deducted 12 points
Derby County have entered administration and been deducted 12 points by the English Football League.
The Championship club announced their intention to call in administrators on Friday, with owner Mel Morris saying the coronavirus pandemic had cost them about £20m in lost revenue.
Morris has spent the past two days talking to players and staff, whose jobs are now uncertain.
Wayne Rooney's Rams drop to the foot of the table, on minus two points.
Andrew Hosking, Carl Jackson and Andrew Andronikou, managing directors at business advisory firm Quantuma, have been appointed joint administrators.
"We are in the early stages of assessing the options available to the club and would invite any interested parties to come forward," said Hosking.
"Our immediate objectives are to ensure the club completes all its fixtures in the Championship this season and finding interested parties to safeguard the club and its employees."
Club lost Morris 'in excess of £200m'
Morris became Derby's sole owner in 2015 but has actively been looking to sell since June 2019 following their Championship play-off final defeat by Aston Villa under Frank Lampard. Morris says the club has lost him "in excess of £200m" to date.
A first takeover deal is said to have collapsed in the aftermath of an EFL charge in January 2020 relating to the sale of Derby's Pride Park to Morris for £80m, despite it previously being listed as worth £41m.
The stadium sale allowed the club to post a pre-tax profit of £14.6m in 2017-18 and therefore meet the EFL's spending rules.
The charge was dismissed in August 2020 but the Rams face a possible separate points deduction, speculated to be nine points, over their accounting policies - with no decision yet made on the punishment.
In March of this year Derventio Holdings, who were backed by the Abu Dhabi-based Bin Zayed Group, saw their takeover bid end while another from Spanish businessman Erik Alonso was called off in May.
'Serious enquiries' for the Rams Derby have been under a transfer embargo since before the summer window opened, meaning the Rams have only been allowed to sign free agents with strict conditions on salaries.
Morris told BBC Radio Derby on Sunday that there had been "something in the region" of 15 enquiries for the club over the weekend, two or three of which he said were "very serious".
On the pitch, Derby had been 12th in the Championship under the management of England's record goalscorer Rooney, who has been in permanent charge since he officially retired as a player in January.
However the automatic penalty for going into administration will put the Rams six points adrift of second-bottom Nottingham Forest, their East Midlands rivals.
'Rooney is the man to lead the battle'
Disbelief, tears, anger and frustration. The emotions of supporters of Derby County since Friday evening.
Saturday's win over Stoke City and the atmosphere at Pride Park was a stopgap to the eventual reality that the Rams would be placed bottom of the Championship, which is now where they are.
Questions surrounding chairman Mel Morris' 'cut and run', as it has been called by many supporters, still need to be answered and perhaps we will only find out now what state the football club is in.
A debt of more than £50m is not going to be turned around by the likes of a Lionel Pickering, the Rams' former chairman who spent his entire local newspaper fortune on the club. It will need to be a global multi-millionaire who can run a business and a football club, but be happy to wipe out the debt owed in one fell swoop.
The worry for supporters is not only the immediate 12-point deduction, it is the next move by the EFL regarding the unsubmitted accounts. Morris told me exclusively on Sunday that there is a failure of profit and sustainability rules in the recalculated documents following the amortisation saga, which in turn could lead to more points being taken off.
The one thing that is obvious around Derby right now is the togetherness of the fans and support for Wayne Rooney. Every battle needs a leader and Rooney is that man. He is unlikely to keep Derby in the Championship, but he told me on Saturday he is committed to the club and to navigate this journey. Whether that will be up to him and his price, rather than his ability, we will have to wait.
The club nearly went bust in 1984 in their centenary season, while 2021 marks 50 years since Brian Clough's side won their first old First Division title. A penny for his thoughts.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County officially enter administration and are deducted 12 points
Derby County have entered administration and been deducted 12 points by the English Football League.
The Championship club announced their intention to call in administrators on Friday, with owner Mel Morris saying the coronavirus pandemic had cost them about £20m in lost revenue.
Morris has spent the past two days talking to players and staff, whose jobs are now uncertain.
Wayne Rooney's Rams drop to the foot of the table, on minus two points.
Andrew Hosking, Carl Jackson and Andrew Andronikou, managing directors at business advisory firm Quantuma, have been appointed joint administrators.
"We are in the early stages of assessing the options available to the club and would invite any interested parties to come forward," said Hosking.
"Our immediate objectives are to ensure the club completes all its fixtures in the Championship this season and finding interested parties to safeguard the club and its employees."
Club lost Morris 'in excess of £200m'
Morris became Derby's sole owner in 2015 but has actively been looking to sell since June 2019 following their Championship play-off final defeat by Aston Villa under Frank Lampard. Morris says the club has lost him "in excess of £200m" to date.
A first takeover deal is said to have collapsed in the aftermath of an EFL charge in January 2020 relating to the sale of Derby's Pride Park to Morris for £80m, despite it previously being listed as worth £41m.
The stadium sale allowed the club to post a pre-tax profit of £14.6m in 2017-18 and therefore meet the EFL's spending rules.
The charge was dismissed in August 2020 but the Rams face a possible separate points deduction, speculated to be nine points, over their accounting policies - with no decision yet made on the punishment.
In March of this year Derventio Holdings, who were backed by the Abu Dhabi-based Bin Zayed Group, saw their takeover bid end while another from Spanish businessman Erik Alonso was called off in May.
'Serious enquiries' for the Rams Derby have been under a transfer embargo since before the summer window opened, meaning the Rams have only been allowed to sign free agents with strict conditions on salaries.
Morris told BBC Radio Derby on Sunday that there had been "something in the region" of 15 enquiries for the club over the weekend, two or three of which he said were "very serious".
On the pitch, Derby had been 12th in the Championship under the management of England's record goalscorer Rooney, who has been in permanent charge since he officially retired as a player in January.
However the automatic penalty for going into administration will put the Rams six points adrift of second-bottom Nottingham Forest, their East Midlands rivals.
'Rooney is the man to lead the battle'
Disbelief, tears, anger and frustration. The emotions of supporters of Derby County since Friday evening.
Saturday's win over Stoke City and the atmosphere at Pride Park was a stopgap to the eventual reality that the Rams would be placed bottom of the Championship, which is now where they are.
Questions surrounding chairman Mel Morris' 'cut and run', as it has been called by many supporters, still need to be answered and perhaps we will only find out now what state the football club is in.
A debt of more than £50m is not going to be turned around by the likes of a Lionel Pickering, the Rams' former chairman who spent his entire local newspaper fortune on the club. It will need to be a global multi-millionaire who can run a business and a football club, but be happy to wipe out the debt owed in one fell swoop.
The worry for supporters is not only the immediate 12-point deduction, it is the next move by the EFL regarding the unsubmitted accounts. Morris told me exclusively on Sunday that there is a failure of profit and sustainability rules in the recalculated documents following the amortisation saga, which in turn could lead to more points being taken off.
The one thing that is obvious around Derby right now is the togetherness of the fans and support for Wayne Rooney. Every battle needs a leader and Rooney is that man. He is unlikely to keep Derby in the Championship, but he told me on Saturday he is committed to the club and to navigate this journey. Whether that will be up to him and his price, rather than his ability, we will have to wait.
The club nearly went bust in 1984 in their centenary season, while 2021 marks 50 years since Brian Clough's side won their first old First Division title. A penny for his thoughts.
A conservative estimate of Derby's debts put them between £50m-£70m, including an outstanding amount owed to Arsenal for Polish defender Krystian Bielik, who they signed in a £10m deal in 2019.
They also owe HMRC in excess of £20m. In addition, they are losing about £1.5m a month. Player wages, the most significant outgoing at any club, are due this week.
A source with detailed knowledge of the administrative process says the first task for the administrator will be to work out how to pay the salaries, as players can leave for nothing if they are not paid within 28 days. Late payment of wages can also trigger a three-point deduction, although this can be suspended.
At Wigan, the EFL club that went into administration in June 2020, they were able to raise funds by selling players. Derby's problem is the transfer window does not open for another three months. In theory they could sell players now and ask for payment immediately but they couldn't be registered or play for anyone else.
After that, the administrators will need to establish the full financial picture to show to prospective buyers. They will speak to supporters, local council and the EFL. Crucially, they will try to reduce losses by cutting expenditure wherever practically possible. This will almost certainly mean redundancies and some agreements with external companies being cancelled.
If the club do not pay 25% of the money they owe to non-football creditors, they will be liable to a 15-point deduction.
Derby were already under a transfer embargo, which severely restricted Rooney's ability to bring in new players last summer. Even if they sell players in January, they could only replace them with players on short-term contracts.
BTW Mel Morris is full of BS
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
A conservative estimate of Derby's debts put them between £50m-£70m, including an outstanding amount owed to Arsenal for Polish defender Krystian Bielik, who they signed in a £10m deal in 2019.
They also owe HMRC in excess of £20m. In addition, they are losing about £1.5m a month. Player wages, the most significant outgoing at any club, are due this week.
A source with detailed knowledge of the administrative process says the first task for the administrator will be to work out how to pay the salaries, as players can leave for nothing if they are not paid within 28 days. Late payment of wages can also trigger a three-point deduction, although this can be suspended.
At Wigan, the EFL club that went into administration in June 2020, they were able to raise funds by selling players. Derby's problem is the transfer window does not open for another three months. In theory they could sell players now and ask for payment immediately but they couldn't be registered or play for anyone else.
After that, the administrators will need to establish the full financial picture to show to prospective buyers. They will speak to supporters, local council and the EFL. Crucially, they will try to reduce losses by cutting expenditure wherever practically possible. This will almost certainly mean redundancies and some agreements with external companies being cancelled.
If the club do not pay 25% of the money they owe to non-football creditors, they will be liable to a 15-point deduction.
Derby were already under a transfer embargo, which severely restricted Rooney's ability to bring in new players last summer. Even if they sell players in January, they could only replace them with players on short-term contracts.
BTW Mel Morris is full of BS
An example of duplicitous way Mel Morris financially mismanaged Derby County 1st arose in 2016/17 accounts. Press release positive, talking of record turnover, compliance with FFP & wages only rising by £1.5m. This ignored 110 staff had contracts transferred to other companies pic.twitter.com/jMgJNn6tN3
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
An example of duplicitous way Mel Morris financially mismanaged Derby County 1st arose in 2016/17 accounts. Press release positive, talking of record turnover, compliance with FFP & wages only rising by £1.5m. This ignored 110 staff had contracts transferred to other companies pic.twitter.com/jMgJNn6tN3
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County: Championship bottom club docked nine more points for accounting rule breaches
Derby County have been deducted a further nine points after admitting breaches of English Football League accounting rules.
The Championship club, docked 12 points for entering administration in September, have agreed to the dismissal of their appeal against that decision.
The latest penalty leaves Wayne Rooney's side on -3 points - 18 points from safety at the foot of the table.
It means the Rams are almost certain to be relegated to League One.
Derby have also been given a further suspended three-point deduction for their breaches of the league's profitability and sustainability (P&S) rules.
That will take effect if the Rams fail to comply with the terms of a budget for the remainder of the season set out as part of an 'agreed decision' between the EFL and the club.
EFL 'satisfied' at the agreed outcome "The EFL's objective throughout this ongoing process has been to ensure that the principles of the regulations were upheld on behalf of all clubs," said EFL chief executive Trevor Birch.
"The EFL has considered the P&S sanction guidelines as well as mitigation put forward by the club.
"Given the complex circumstances of the case and the various outstanding regulatory issues between the EFL and Derby County, the League is satisfied at the agreed outcome and the sensible approach taken by both parties in negotiating this outcome and in respect of the appeal withdrawal."
The Rams were placed into administration on 22 September and efforts to find a buyer are continuing.
However, the issues related to their accounting practices pre-date that and they were fined £100,000 in July and ordered to resubmit their accounts for 2016, 2017 and 2018.
The rules on amortisation
The club were cleared of breaching spending rules in August 2020.
However, the EFL appealed against the decision to an independent tribunal and won the element of the case concerning how the club measured the value of players - called amortisation.
Amortisation rules should see the cost of any transfer fee accounted for evenly over the length of that player's contract - so a £5m fee over a five-year deal would be charged as £1m per year, and worth zero come the end of the contract period.
However, Derby gave players a 'residual value' - meaning that the club could increase the value of players during the life of the contract - a practice which it was claimed was not in line with generally accepted accounting principles.
It is understood that virtually all credible parties currently interested in buying the club are doing so on the basis that Derby will be in League One next season.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County: Championship bottom club docked nine more points for accounting rule breaches
Derby County have been deducted a further nine points after admitting breaches of English Football League accounting rules.
The Championship club, docked 12 points for entering administration in September, have agreed to the dismissal of their appeal against that decision.
The latest penalty leaves Wayne Rooney's side on -3 points - 18 points from safety at the foot of the table.
It means the Rams are almost certain to be relegated to League One.
Derby have also been given a further suspended three-point deduction for their breaches of the league's profitability and sustainability (P&S) rules.
That will take effect if the Rams fail to comply with the terms of a budget for the remainder of the season set out as part of an 'agreed decision' between the EFL and the club.
EFL 'satisfied' at the agreed outcome "The EFL's objective throughout this ongoing process has been to ensure that the principles of the regulations were upheld on behalf of all clubs," said EFL chief executive Trevor Birch.
"The EFL has considered the P&S sanction guidelines as well as mitigation put forward by the club.
"Given the complex circumstances of the case and the various outstanding regulatory issues between the EFL and Derby County, the League is satisfied at the agreed outcome and the sensible approach taken by both parties in negotiating this outcome and in respect of the appeal withdrawal."
The Rams were placed into administration on 22 September and efforts to find a buyer are continuing.
However, the issues related to their accounting practices pre-date that and they were fined £100,000 in July and ordered to resubmit their accounts for 2016, 2017 and 2018.
The rules on amortisation
The club were cleared of breaching spending rules in August 2020.
However, the EFL appealed against the decision to an independent tribunal and won the element of the case concerning how the club measured the value of players - called amortisation.
Amortisation rules should see the cost of any transfer fee accounted for evenly over the length of that player's contract - so a £5m fee over a five-year deal would be charged as £1m per year, and worth zero come the end of the contract period.
However, Derby gave players a 'residual value' - meaning that the club could increase the value of players during the life of the contract - a practice which it was claimed was not in line with generally accepted accounting principles.
It is understood that virtually all credible parties currently interested in buying the club are doing so on the basis that Derby will be in League One next season.
Derby County and connected firms owe £29m to HM Revenue and Customs
Derby County and the club's connected companies owe a combined £29.3m to HM Revenue and Customs (HMRC), according to figures released on Saturday.
The Championship club have been in administration for almost two months.
Earlier this week, Derby were given an overall 21-point deduction by the English Football League that has cut them adrift at the bottom of the table.
The true scale of the club's financial problems had not been known until now.
Derby's six connected companies have all updated their records with Companies House, showing a combined overall total of £29.3m owed to HMRC. They also show a £20m loan received from US investment group MSD Holdings, which was already known about.
In addition, a combination of football and trade creditors are owed around £15m.
These are the debts, in addition to more money owed to former owner Mel Morris, that the administrators need to renegotiate before they can sell the club, which they still hope to do at some point in January.
On that list of creditors, Derby owe £8.37m in outstanding player registration fees, plus a further £504,000 in agents' commission. This is believed to be connected to the deals that saw Krystian Bielik join Derby from Arsenal in 2019 and Kamil Jozwiak move to Pride Park from Lech Poznan in September 2020.
More than £1m is owed to the Wasserman agency, while the Triple S Sports Management company, owned by manager Wayne Rooney's long-time adviser Paul Stretford, is owed £60,000. St John Ambulance is owed £8,000.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County and connected firms owe £29m to HM Revenue and Customs
Derby County and the club's connected companies owe a combined £29.3m to HM Revenue and Customs (HMRC), according to figures released on Saturday.
The Championship club have been in administration for almost two months.
Earlier this week, Derby were given an overall 21-point deduction by the English Football League that has cut them adrift at the bottom of the table.
The true scale of the club's financial problems had not been known until now.
Derby's six connected companies have all updated their records with Companies House, showing a combined overall total of £29.3m owed to HMRC. They also show a £20m loan received from US investment group MSD Holdings, which was already known about.
In addition, a combination of football and trade creditors are owed around £15m.
These are the debts, in addition to more money owed to former owner Mel Morris, that the administrators need to renegotiate before they can sell the club, which they still hope to do at some point in January.
On that list of creditors, Derby owe £8.37m in outstanding player registration fees, plus a further £504,000 in agents' commission. This is believed to be connected to the deals that saw Krystian Bielik join Derby from Arsenal in 2019 and Kamil Jozwiak move to Pride Park from Lech Poznan in September 2020.
More than £1m is owed to the Wasserman agency, while the Triple S Sports Management company, owned by manager Wayne Rooney's long-time adviser Paul Stretford, is owed £60,000. St John Ambulance is owed £8,000.
Derby County: Chris Kirchner withdraws bid to buy Championship club
US businessman Chris Kirchner has withdrawn his bid to buy Championship club Derby County.
Kirchner, one of three prospective buyers, ended his interest after the club's administrators said they were "unlikely" to name a preferred bidder before Christmas.
The businessman said he had made the decision "with real sadness".
Derby went into administration in September and are bottom of the Championship after a points deduction.
Kirchner, whose interest was backed by Derby manager Wayne Rooney, posted on social media: "It is with real sadness that I can confirm I am withdrawing from the process to buy Derby County Football Club.
"First and foremost, I would like to apologise to the fans. As you know, I've been in talks with the administrators for about two months.
"Two weeks ago, I made a formal offer to buy the club. I believe I presented a very detailed, generous and ambitious long-term sustainable business plan. It included purchasing the stadium, future funding and maintaining the academy's status. We improved that offer further today.
"I wanted to agree a deal that I thought was in the best interests of all parties but, unfortunately, the last 24 hours has proven that just isn't possible. So it is with deep regret that I must now stand aside and let the administrators pursue their own course."
Administrators had said on Tuesday they were hopeful of making an announcement on the up-for-sale club this week.
A statement from the club's joint administrator Carl Jackson said: "We understand and respect the frustrations of all involved in Derby County Football Club, and in particular the supporters, that quicker progress has not been made.
"But we want to reassure all those stakeholders that we are trying to go as quickly as possible."
Administrators said earlier this month they expect to complete a sale "in or around February 2022".
An agreement needs to be reached with HMRC, who are owed £29.3m, while Middlesbrough and Wycombe Wanderers also have outstanding claims against Derby.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County: Chris Kirchner withdraws bid to buy Championship club
US businessman Chris Kirchner has withdrawn his bid to buy Championship club Derby County.
Kirchner, one of three prospective buyers, ended his interest after the club's administrators said they were "unlikely" to name a preferred bidder before Christmas.
The businessman said he had made the decision "with real sadness".
Derby went into administration in September and are bottom of the Championship after a points deduction.
Kirchner, whose interest was backed by Derby manager Wayne Rooney, posted on social media: "It is with real sadness that I can confirm I am withdrawing from the process to buy Derby County Football Club.
"First and foremost, I would like to apologise to the fans. As you know, I've been in talks with the administrators for about two months.
"Two weeks ago, I made a formal offer to buy the club. I believe I presented a very detailed, generous and ambitious long-term sustainable business plan. It included purchasing the stadium, future funding and maintaining the academy's status. We improved that offer further today.
"I wanted to agree a deal that I thought was in the best interests of all parties but, unfortunately, the last 24 hours has proven that just isn't possible. So it is with deep regret that I must now stand aside and let the administrators pursue their own course."
Administrators had said on Tuesday they were hopeful of making an announcement on the up-for-sale club this week.
A statement from the club's joint administrator Carl Jackson said: "We understand and respect the frustrations of all involved in Derby County Football Club, and in particular the supporters, that quicker progress has not been made.
"But we want to reassure all those stakeholders that we are trying to go as quickly as possible."
Administrators said earlier this month they expect to complete a sale "in or around February 2022".
An agreement needs to be reached with HMRC, who are owed £29.3m, while Middlesbrough and Wycombe Wanderers also have outstanding claims against Derby.
Kirchner was never the preferred bidder of the administrators. There is one last spectacular twist to come from this story.
Derby County: EFL asks for proof of how club will be funded for rest of season
Derby County's administrators have been told to show the English Football League how they intend to fund the club until the end of the season.
An EFL Board meeting resolved to try and bring clarity to the situation.
Although manager Wayne Rooney said he expected a preferred bidder to be named by the end of this week, but the latest situation meant it did not happen.
Former Newcastle owner Mike Ashley and a consortium including ex-Rams chairman Andy Appleby remain front-runners.
An EFL statement said: "Following its board meeting on Thursday 13 January, the EFL has written to the administrators reiterating that it needs confirmation as a matter of urgency of how they intend to trade whilst Derby County remains in administration including a funding plan that will enable the club to fulfil its fixture obligations until the end of the current season.
"Without this visibility the League is unable to approve any player signings or renew existing registrations and this position had been communicated to the club prior to yesterday's meeting."
Administrators Quantuma said they were not in a position to finalise how the club would be funded straight away, despite three parties having made offers, but they believed it would be finalised in the coming weeks.
"The joint administrators have an exit plan ready to implement and be approved by creditors and this is with a view to adjusting offers received to accommodate the EFL insolvency policy and their requirements to creditors," a statement from Quantuma said.
"The difficulty and currently, in our view, the last remaining significant obstacle is to deal with certain claims that are very much disputed but which we are being advised by the EFL cannot be currently compromised notwithstanding statute says otherwise.
"Whilst we accept this is frustrating for all, none of the interested parties are able to progress matters further until such time that an agreement can be reached.
"We are urgently seeking 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 run out on 17 January, cannot be completed and he has left the club.
It is understood Stoke are now close to signing him.
The 39-year-old made 21 appearances for The Rams and Rooney is understood to be furious at his departure.
"Talks had been ongoing with Jagielka to extend his stay at Pride Park Stadium in recent weeks but because of the restrictions the club is operating under, he has unfortunately been unable to put pen-to-paper," said a club statement.
Hopes of a takeover deal being struck are hampered by outstanding legal cases against Derby involving Middlesbrough and Wycombe.
Should these eventually go against the club, any compensation would be regarded as a 'football' debt and need to be paid in full.
It is understood that neither potential bidder is willing to take Derby on without some clarity over this issue, and the EFL has suggested brokering a deal with Middlesbrough and Wycombe may be the best way forward.
Rams Trust wants 'frank' update
The only ways Derby's administrators Quantuma can generate funds at present is either by selling players or if a preferred bidder expresses a willingness to put their money into the club.
Derby turned down what Rooney described as "ridiculous" bids for players earlier this week.
However, some Championship rivals are understood to be unhappy about offers being rejected - at the same time as Derby are negotiating with HMRC over a deal that will see in excess of £20m go unpaid, from an overall bill of £28m.
It is not known yet 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 on 11 points, a further 11 from safety.
Derby supporters group Rams Trust have demanded a "full, frank and immediate update" on the situation from the administrators.
"The time for supporters to be kept in the dark is over, especially with what seems like a dire threat to the very existence of Derby County FC," the group said in a statement.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County: EFL asks for proof of how club will be funded for rest of season
Derby County's administrators have been told to show the English Football League how they intend to fund the club until the end of the season.
An EFL Board meeting resolved to try and bring clarity to the situation.
Although manager Wayne Rooney said he expected a preferred bidder to be named by the end of this week, but the latest situation meant it did not happen.
Former Newcastle owner Mike Ashley and a consortium including ex-Rams chairman Andy Appleby remain front-runners.
An EFL statement said: "Following its board meeting on Thursday 13 January, the EFL has written to the administrators reiterating that it needs confirmation as a matter of urgency of how they intend to trade whilst Derby County remains in administration including a funding plan that will enable the club to fulfil its fixture obligations until the end of the current season.
"Without this visibility the League is unable to approve any player signings or renew existing registrations and this position had been communicated to the club prior to yesterday's meeting."
Administrators Quantuma said they were not in a position to finalise how the club would be funded straight away, despite three parties having made offers, but they believed it would be finalised in the coming weeks.
"The joint administrators have an exit plan ready to implement and be approved by creditors and this is with a view to adjusting offers received to accommodate the EFL insolvency policy and their requirements to creditors," a statement from Quantuma said.
"The difficulty and currently, in our view, the last remaining significant obstacle is to deal with certain claims that are very much disputed but which we are being advised by the EFL cannot be currently compromised notwithstanding statute says otherwise.
"Whilst we accept this is frustrating for all, none of the interested parties are able to progress matters further until such time that an agreement can be reached.
"We are urgently seeking 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 run out on 17 January, cannot be completed and he has left the club.
It is understood Stoke are now close to signing him.
The 39-year-old made 21 appearances for The Rams and Rooney is understood to be furious at his departure.
"Talks had been ongoing with Jagielka to extend his stay at Pride Park Stadium in recent weeks but because of the restrictions the club is operating under, he has unfortunately been unable to put pen-to-paper," said a club statement.
Hopes of a takeover deal being struck are hampered by outstanding legal cases against Derby involving Middlesbrough and Wycombe.
Should these eventually go against the club, any compensation would be regarded as a 'football' debt and need to be paid in full.
It is understood that neither potential bidder is willing to take Derby on without some clarity over this issue, and the EFL has suggested brokering a deal with Middlesbrough and Wycombe may be the best way forward.
Rams Trust wants 'frank' update
The only ways Derby's administrators Quantuma can generate funds at present is either by selling players or if a preferred bidder expresses a willingness to put their money into the club.
Derby turned down what Rooney described as "ridiculous" bids for players earlier this week.
However, some Championship rivals are understood to be unhappy about offers being rejected - at the same time as Derby are negotiating with HMRC over a deal that will see in excess of £20m go unpaid, from an overall bill of £28m.
It is not known yet 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 on 11 points, a further 11 from safety.
Derby supporters group Rams Trust have demanded a "full, frank and immediate update" on the situation from the administrators.
"The time for supporters to be kept in the dark is over, especially with what seems like a dire threat to the very existence of Derby County FC," the group said in a statement.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County administrators have 'spotted a provision' over debts as they submit new plan to EFL
DerbyshireLive brings you the latest Derby County news as administrators Quantuma reportedly spot a legal provision that could help save the Rams
Derby County administrators Quantuma are said to have "spotted a provision" that could ultimately save the club.
The Rams are believed to currently owe a total of £60m to creditors, with 'unsecured' creditors typically getting 25% of what they are owed, though Middlesbrough and Wycombe are reportedly pursuing the club for a combined £50m.
The ongoing dispute with the two clubs is a major hurdle that needs to be overcome if a takeover of the Rams is to be completed.
According to The Athletic, Quantuma have "spotted a provision" in the Corporate Insolvency and Governance Act 2020 that allows them to significantly reduce Derby’s debts and render the claims from Middlesbrough and Wycombe irrelevant.
They reportedly proposed a plan to the EFL, which would see the club offer HMRC the same 25% as unsecured creditors and give Middlesbrough and Wycombe nothing.
Said plan also included a promise that Derby can fulfil their fixtures for the rest of the season without accepting "low-ball offers" for players.
The latter detail, though, contradicts the newly-completed deal to sell Graeme Shinnie to League One side Wigan Athletic for just £30,000.
It is said that the EFL board have external advice that Middlesbrough and Wycombe are football creditors - and therefore owed every penny - but the relevant law changed only recently and the EFL rulebook has not been updated to reflect it.
As a result, the EFL have reportedly offered to send the matter to arbitration.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County administrators have 'spotted a provision' over debts as they submit new plan to EFL
DerbyshireLive brings you the latest Derby County news as administrators Quantuma reportedly spot a legal provision that could help save the Rams
Derby County administrators Quantuma are said to have "spotted a provision" that could ultimately save the club.
The Rams are believed to currently owe a total of £60m to creditors, with 'unsecured' creditors typically getting 25% of what they are owed, though Middlesbrough and Wycombe are reportedly pursuing the club for a combined £50m.
The ongoing dispute with the two clubs is a major hurdle that needs to be overcome if a takeover of the Rams is to be completed.
According to The Athletic, Quantuma have "spotted a provision" in the Corporate Insolvency and Governance Act 2020 that allows them to significantly reduce Derby’s debts and render the claims from Middlesbrough and Wycombe irrelevant.
They reportedly proposed a plan to the EFL, which would see the club offer HMRC the same 25% as unsecured creditors and give Middlesbrough and Wycombe nothing.
Said plan also included a promise that Derby can fulfil their fixtures for the rest of the season without accepting "low-ball offers" for players.
The latter detail, though, contradicts the newly-completed deal to sell Graeme Shinnie to League One side Wigan Athletic for just £30,000.
It is said that the EFL board have external advice that Middlesbrough and Wycombe are football creditors - and therefore owed every penny - but the relevant law changed only recently and the EFL rulebook has not been updated to reflect it.
As a result, the EFL have reportedly offered to send the matter to arbitration.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
A wealthy US family, based in New England, have made a formal offer to buy Championship club Derby County.
The Binnies, founders of investment company Carlisle Capital, have submitted a bid of about £28m.
The club's administrators had hoped to name a preferred bidder earlier this month, with three parties interested.
But they have to meet the English Football League's statutory requirement for proof of how Derby will be funded for the rest of the season.
Administrators Quantuma are also having to deal with compensation claims against Derby from fellow EFL clubs Middlesbrough and Wycombe Wanderers.
BBC Radio Derby reports that the bid does not cover the Rams' Pride Park stadium, which is owned by former club chairman Mel Morris.
Derby were placed into administration last September by Morris and the club were hit with deductions totalling 21 points, leaving them facing relegation to League One.
Despite that, impressive form under manager Wayne Rooney has seen the team climb off the bottom of the table and they are within eight points of safety.
Speaking on Friday, before reports of the Binnies' interest, Rooney told BBC Sport: "Derby County is much more than just a football club. It gives everyone in the city hope, it gives kids a dream of playing for their club. It helps numerous charities around the city.
"Let's hope we get the help we need or this will be a massive loss to Derby."
Those interested in buying the club include a consortium including ex-Derby chairman Andy Appleby and former Newcastle owner Mike Ashley.
US businessman Chris Kirchner, from Texas, submitted an offer for the club but withdrew it just before Christmas.
Carlisle Capital was founded in Boston, Massachusetts, and has been an investor in more than 15 countries around the world, the company website says.
Vice-president Adam Binnie is understood to be leading the move for Derby, and has been informed about additional liabilities that the club could face, which rests largely on the outcome of the action by Middlesbrough and Wycombe.
Both clubs claim to have lost out because of Derby's financial rule breaches - Middlesbrough finished below the Rams in the race for the play-offs in 2019, while Wycombe were relegated to the third tier last season, which may not have happened had a points deduction been imposed in 2020-21.
EFL 'committed' to finding solution
EFL chairman Rick Parry told BBC Radio 5 Live the EFL are committed to keeping Derby County "alive" while dealing with the claims put forward by Middlesbrough and Wycombe.
"We are committed, we believe a solution can be found," he said. "We're not underestimating that because it's complex, it's challenging. There are a variety of different issues that have to be addressed.
"We don't think the objective of Middlesbrough and Wycombe is to see Derby liquidated. We think their objective is to have a fair hearing for their complaints and a fair basis to find a resolution.
"If we're going to knock heads together, we need to be able to identify the heads and at the moment there is a head missing - we need a preferred bidder. Once we have a preferred bidder we can get around the table."
Football finance expert Kieran Maguire told BBC Radio Derby that the £28m offer from the Binnies was a "good first step" but not enough to pay off the club's football creditors, irrespective of the Middlesbrough and Wycombe situation - although it might "flush out some higher offers" from the other interested parties.
"We could now move into some form of an auction whereby the administrators will be utilising this first bid as a means of extracting additional value from the other bidders," he said.
There was nothing to stop any of the bidders coming to a private agreement with Middlesbrough and Wycombe, Maguire continued, as neither of them would want "to be racking up huge legal bills".
He added: "You're effectively paying £28m for the name of Derby County and its place in English football. The fact that an investment company is prepared to pay for that is indicative that it is a brand that is held in high regard and I think we can certainly look forward with greater confidence."
Analysis BBC Sport reporter Simon Stone
This news has to be seen as a positive for Derby, given that only yesterday the administrators said none of the three interested parties would move forward without the Middlesbrough and Wycombe situations being resolved.
However, question marks remain over the bid. If it doesn't include the stadium, which Mel Morris owns, how do the Binnie family intend to bring the whole club back under one umbrella?
Will this deal with the MSD Holdings loan, which is secured against the stadium? And will it make Middlesbrough and Wycombe even more determined not to abandon their compensation quest?
It will also be interesting to see the reaction of competing bids, led by former chairman Andy Appleby and ex-Newcastle owner Mike Ashley.
For the first time in many days, though, Derby fans have a reason for optimism.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
A wealthy US family, based in New England, have made a formal offer to buy Championship club Derby County.
The Binnies, founders of investment company Carlisle Capital, have submitted a bid of about £28m.
The club's administrators had hoped to name a preferred bidder earlier this month, with three parties interested.
But they have to meet the English Football League's statutory requirement for proof of how Derby will be funded for the rest of the season.
Administrators Quantuma are also having to deal with compensation claims against Derby from fellow EFL clubs Middlesbrough and Wycombe Wanderers.
BBC Radio Derby reports that the bid does not cover the Rams' Pride Park stadium, which is owned by former club chairman Mel Morris.
Derby were placed into administration last September by Morris and the club were hit with deductions totalling 21 points, leaving them facing relegation to League One.
Despite that, impressive form under manager Wayne Rooney has seen the team climb off the bottom of the table and they are within eight points of safety.
Speaking on Friday, before reports of the Binnies' interest, Rooney told BBC Sport: "Derby County is much more than just a football club. It gives everyone in the city hope, it gives kids a dream of playing for their club. It helps numerous charities around the city.
"Let's hope we get the help we need or this will be a massive loss to Derby."
Those interested in buying the club include a consortium including ex-Derby chairman Andy Appleby and former Newcastle owner Mike Ashley.
US businessman Chris Kirchner, from Texas, submitted an offer for the club but withdrew it just before Christmas.
Carlisle Capital was founded in Boston, Massachusetts, and has been an investor in more than 15 countries around the world, the company website says.
Vice-president Adam Binnie is understood to be leading the move for Derby, and has been informed about additional liabilities that the club could face, which rests largely on the outcome of the action by Middlesbrough and Wycombe.
Both clubs claim to have lost out because of Derby's financial rule breaches - Middlesbrough finished below the Rams in the race for the play-offs in 2019, while Wycombe were relegated to the third tier last season, which may not have happened had a points deduction been imposed in 2020-21.
EFL 'committed' to finding solution
EFL chairman Rick Parry told BBC Radio 5 Live the EFL are committed to keeping Derby County "alive" while dealing with the claims put forward by Middlesbrough and Wycombe.
"We are committed, we believe a solution can be found," he said. "We're not underestimating that because it's complex, it's challenging. There are a variety of different issues that have to be addressed.
"We don't think the objective of Middlesbrough and Wycombe is to see Derby liquidated. We think their objective is to have a fair hearing for their complaints and a fair basis to find a resolution.
"If we're going to knock heads together, we need to be able to identify the heads and at the moment there is a head missing - we need a preferred bidder. Once we have a preferred bidder we can get around the table."
Football finance expert Kieran Maguire told BBC Radio Derby that the £28m offer from the Binnies was a "good first step" but not enough to pay off the club's football creditors, irrespective of the Middlesbrough and Wycombe situation - although it might "flush out some higher offers" from the other interested parties.
"We could now move into some form of an auction whereby the administrators will be utilising this first bid as a means of extracting additional value from the other bidders," he said.
There was nothing to stop any of the bidders coming to a private agreement with Middlesbrough and Wycombe, Maguire continued, as neither of them would want "to be racking up huge legal bills".
He added: "You're effectively paying £28m for the name of Derby County and its place in English football. The fact that an investment company is prepared to pay for that is indicative that it is a brand that is held in high regard and I think we can certainly look forward with greater confidence."
Analysis BBC Sport reporter Simon Stone
This news has to be seen as a positive for Derby, given that only yesterday the administrators said none of the three interested parties would move forward without the Middlesbrough and Wycombe situations being resolved.
However, question marks remain over the bid. If it doesn't include the stadium, which Mel Morris owns, how do the Binnie family intend to bring the whole club back under one umbrella?
Will this deal with the MSD Holdings loan, which is secured against the stadium? And will it make Middlesbrough and Wycombe even more determined not to abandon their compensation quest?
It will also be interesting to see the reaction of competing bids, led by former chairman Andy Appleby and ex-Newcastle owner Mike Ashley.
For the first time in many days, though, Derby fans have a reason for optimism.
Derby County: Chris Kirchner's takeover of financially stricken club in doubt
Chris Kirchner's attempt to buy financially stricken club Derby County is in danger of collapsing, despite the American insisting the takeover will happen.
The businessman was named as preferred bidder to take the club out of administration on 6 April.
Kirchner has told BBC Sport that he expects the deal to be done today.
BBC Radio Derby reports that funds promised by the 34-year-old to pay the Rams' wages for May have not arrived.
Those wages are understood to have been paid by someone else close to the club.
The English Football League conditionally approved the takeover when contracts for the sale of the club had been exchanged on 17 May.
At the time, the EFL said "the terms of a Membership Agreement" had been agreed with the American's 9CK Sports Holdings Limited company to allow the sale of the club.
Derby's administrators Quantuma had said the takeover was conditional on the sale of Derby's Pride Park home ground, which is still owned by former majority shareholder Mel Morris.
Meetings between Kirchner, his representatives, Morris and Derby City Council, who have said they were exploring options to buy the ground, have failed to resolve the issue.
Derby, the EFL and Quantuma are yet to comment on the latest developments.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
Derby County: Chris Kirchner's takeover of financially stricken club in doubt
Chris Kirchner's attempt to buy financially stricken club Derby County is in danger of collapsing, despite the American insisting the takeover will happen.
The businessman was named as preferred bidder to take the club out of administration on 6 April.
Kirchner has told BBC Sport that he expects the deal to be done today.
BBC Radio Derby reports that funds promised by the 34-year-old to pay the Rams' wages for May have not arrived.
Those wages are understood to have been paid by someone else close to the club.
The English Football League conditionally approved the takeover when contracts for the sale of the club had been exchanged on 17 May.
At the time, the EFL said "the terms of a Membership Agreement" had been agreed with the American's 9CK Sports Holdings Limited company to allow the sale of the club.
Derby's administrators Quantuma had said the takeover was conditional on the sale of Derby's Pride Park home ground, which is still owned by former majority shareholder Mel Morris.
Meetings between Kirchner, his representatives, Morris and Derby City Council, who have said they were exploring options to buy the ground, have failed to resolve the issue.
Derby, the EFL and Quantuma are yet to comment on the latest developments.
‘Where there is harmony, may we bring discord. Where there is truth, may we bring error. Where there is faith, may we bring doubt. And where there is hope, may we bring despair’
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