Derby County are given a four-week stay of execution just five days before the funding deadline was due to expire after the EFL and the club’s administrators agreed they had found enough money for another month
- Administrators have been in intensive talks with three interested parties
- No preferred bidder to takeover the club has been announced, despite talks
- EFL set a deadline of February 1 for the club to prove it had funds to finish season
- Review of club’s financial position has convinced the EFL to extend that deadline
Derby County have been given a four-week stay of execution after the EFL agreed to extend the deadline for the club’s administrators to show there are sufficient funds to complete the season.
The club and the administrators, Quantuma, issued a joint statement on Thursday. It came after intensive meetings between the administrators and the three parties interested in taking over the club, which have so far failed to identify a preferred bidder.
‘Following a formal review of revised financial forecasts at Derby County, the EFL and Quantuma (the Club Administrators) have today agreed a month-long extension to the deadline set for proof of funding to be provided,’ the statement said.
Derby boss Wayne Rooney has worked miracles with the club on the brink of extinction
‘The EFL Board had previously requested evidence by 1 February 2022 of how Derby County was to be financed whilst it remained in administration, alongside a financial plan that determined how the Club would fulfil its fixture commitments until the end of the current season.’
The EFL and Quantuma said the stay of execution would allow Derby to continue discussions with interested parties and provide ‘additional time to seek clarity on the claims from Middlesbrough and Wycombe’.
More to follow.