CLOWES IN CONTROL
END OF CRISIS IN SIGHT AS PROPERTY FIRM BUYS PRIDE PARK – AND BIDS FOR CLUB
DERBY County’s future has inched closer to being secured after Clowes Developments purchased Pride Park and planned to submit a takeover bid for the League One club.
In an encouraging 24 hours, the property firm confirmed yesterday it had acquired the stadium from previous owner Mel Morris in a deal completed last Friday.
Moves are now being made to finalise a takeover with David Clowes, a Derby fan, undergoing the owners and directors’ test as part of his attempts to take control of the club that has been in administration for the last nine months.
As part of that commitment, Clowes Developments has also issued a loan to the Rams that will allow them to start the season and make new signings ahead of the big kick-off next month.
A company statement said: “Derbyshire-based property group, Clowes Developments (UK) Ltd, are proud to announce they have successfully purchased the Company that owned Pride Park Stadium from fellow local businessman Mel Morris.
“Additionally, Clowes has issued an interim loan to the Club which will enable Derby County to start the next season and trade whilst a deal to purchase the club is concluded.
“Clowes has also confirmed that they will, today (Friday), submit a bid to purchase Derby County Football Club.
Mr Clowes said he was delighted to be in a position to come to Derby’s aid amid fears among some fans they would not survive the darkest chapter in the club’s history.
“With a deadline looming and the start of the next season getting closer, we needed to do something,” he said.
“As a local and established property company, purchasing the stadium seemed the obvious first step. Secondly, as a proud Derby supporter, it was inconceivable to me that the club was at risk of falling away.
“We’ve worked tirelessly behind the scenes on the stadium purchase and loan agreement to be able to get the club going again in time for the next season.
“Players, staff and fans needed some good news, and we are delighted to play a part in delivering that.
“As a long-standing loyal supporter, I am personally delighted that we are in a position to be able to secure the future of the football club. This is a very proud and humbling moment for Clowes Developments.”
The news was met with considerable relief by supporters who have been hoping for a saviour after American businessman Chris Kirchner withdrew his offer for the club at the 11th hour a week last Monday.
Should the formalities be completed, Derby will exit administration ending months of financial uncertainty.
The Football League said on Friday that it was awaiting an offer from Clowes Developments and were pleased the issues regarding the stadium have been resolved.
A statement read: “The EFL welcomes the announcement by Clowes Developments (UK) Limited in respect of its acquisition of Pride Park stadium, which has been a significant challenge in relation to the sale of Derby County Football Club, and that it will be submitting a bid for the football club during the course of today.
“Over the last two weeks the EFL has met daily with the joint administrators, Quantuma, as they continue their efforts to sell the Club, and the League is now working closely with all parties to ensure they recognise the importance of compliance with the League’s regulations and insolvency policy with the objective of securing the club’s exit from administration.
“The League has already commenced the process in respect of its owners and directors’ test, as well as an assessment of the ultimate source and sufficiency of funding to support the proposed business plan for the club.
“The League understands and acknowledges that there is a desire from Derby County’s stakeholders, including supporters and staff, for a swift conclusion to matters and its focus remains on the club’s prompt exit from administration.”