Derby County saved as takeover deal is completed
Our Restructuring and Advisory Division joint administrators, Andrew Hosking, Carl Jackson and Andrew Andronikou are delighted to confirm the completion of the sale of the business and assets of Derby County Football Club (“The Club”) to Derbyshire based property group, Clowes Developments (UK) Ltd (“Clowes”) for an undisclosed amount.
The transaction sees the Club exit from administration and be brought under the same ownership structure as its stadium, Pride Park.
Joint administrator, Carl Jackson said, “We are very pleased to have achieved today’s sale, in a deal which secures the long-term future of The Club, and one which represents the very best outcome for creditors. I would like to express my sincere thanks to The Club’s staff players and the fans for their loyalty, and patience, as they supported the Club through the administration.”
Joint administrator, Andrew Hosking added, “The level of complexity involved in bringing this matter to a conclusion has been unparalleled and we are grateful to all stakeholders and their advisers, for their hard work which has enabled us to overcome a magnitude of challenges, and allow the rescue of this historic Club. This deal represents a real milestone in the long and illustrious history of Derby County, and one which marks the end of the uncertainty experienced by supporters and the wider community whilst the club has been in administration and also importantly is one which complies with the EFL Insolvency Policy and provides the best return for creditors. Today signifies a new beginning for the Club, and it enables the Club to move forward into the new season with a clean slate, under local ownership under the stewardship of Clowes.”
The joint administrators were advised by the Law Firm Pinsent Masons with a team, led by partner, Steve Cottee. The buyers were advised by a team led by Simon Taylor at Gateley Legal.
A list of our Insolvency Practitioners and their respective licensing bodies is available from our website at http://www.quantuma.com/legal-information
Insolvency Practitioners, Managing Directors and Staff act and advise without personal liability.
