Rams takeover ‘most complex, high-stakes’ deal, claims law firm
THE law firm which has advised Chris Kirchner on his prospective takeover of Derby County has said it is the most “complex” they have ever worked on.
Squire Patton Boggs has been assisting the American businessman in his attempt to take control of the Rams, with a deal now inching closer to completion.
The Football League this week revealed that they have given Kirchner approval but it is conditional on the sale of Pride Park Stadium and receiving secured creditor consent.
The issues regarding the stadium have been the biggest obstacle for Kirchner to overcome, with the ground owned by former chairman Mel Morris, who separated the ground from the club in 2018.
Team Derby, a group which includes politicians, is continuing talks over the ground, with the date of May 31 being the target date for completion.
Squire Patton Boggs has a long history of working on football deals across the last 20 years which has seen them advise on purchases of Manchester City and the sale of clubs such as Aston Villa and Wolves.
But David Hull, who is the corporate partner of Squire Patton Boggs, says the deal for Derby has been the most complex in their history.
“We are delighted to have supported Chris Kirchner in a deal that will hopefully secure the future of Derby County Football Club,” he said.
“This is the most complex, highstakes football transaction that we have advised on, with the separation of the ownership of Pride Park from the club one of a number of issues to navigate in structuring the deal.
“The desire and co-operation of all stakeholders who are working hard to get this deal over the line will enable the club to move on and look ahead to next season and its longterm future.”
Hull has been supported by the head of the firm’s Sports and Entertainment Industry Group Stephen Sampson, Restructuring and Insolvency partner Devinder Sing, Real Estate senior associate Andrew Chapman and Restructuring and Insolvency associate Emily Davis.
Kirchner revealed on Monday that contracts have been exchanged with the club’s administrators Quantuma and he will start to fund the club from next week.
Once the deal is given the goahead, Derby will exit administration which will then allow boss Wayne Rooney to start making plans for next season in League One following relegation from the Championship.
A transfer embargo would also be lifted meaning the club will be able to make new signings with this summer’s transfer window opening on June 10.
Earlier this year, Rooney said the club could need up to 40 players this summer which not just include the first team but also the under-23s.