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Birmingham Post
Birmingham Post
Business
Tom Pegden

Derby County deal could be done soon, but stadium issues still not resolved

Derby County’s administrators are confident a deal will be struck with a new owner soon – but admitted there are still issues to be ironed out with the league and over the Pride Park Stadium.

They said talks were going well with US businessman Chris Kirchner, who was recently picked as their preferred bidder for the club.

But they said issues with the stadium would include former club owner Mel Morris – who still owns Pride Park – writing off “substantial sums” owed to him personally.

Mr Kircher first showed an interest in buying the club last autumn. He is co-founder, chief executive and chairman of global logistics software provider Slync.io, which is based out of San Francisco.

He remains keen to take on the club despite Derby recently being relegated to League One after having 21 points deducted for breaches of finance rules.

A period of exclusivity granted to Mr Kircher, which expired on Saturday night, has been extended until midnight on Saturday.

Mr Kirchner and Mr Morris found themselves in deadlock after meeting along with other key parties on Sunday morning regarding the stadium.

Derby City Council has been in negotiations with Mr Morris over the possibility of buying it and leasing it to Mr Kirchner, an option which Kirchner is thought to favour.

Pride Park is not part of the administration process, so a separate deal is needed.

On Monday afternoon Mr Kirchner told Derby fans on Twitter: "Take a deep breath. We are after it full speed.

“I have to go to Bangkok for work and this has long been scheduled. Formal news coming."

In a statement, administrators Quantuma said they were aware of “heightening anxiety” and the high levels of interest in dealings with the American.

They said: “Since announcing Mr Kirchner as preferred bidder we have progressed through most of the outstanding issues with the preferred bidder and there are now just a small number of outstanding matters to be agreed with the EFL and in relation to the club’s stadium at Pride Park.

“We consider that matters can be resolved in a short period of time and are grateful for the assistance of all stakeholders relating to the stadium.

“It should be noted that the company that owns the stadium is not in administration and therefore out of our control. We have therefore extended the period of exclusivity to midnight on Saturday, May 14.

“For the avoidance of doubt, Mr Morris has been fully co-operative throughout the administration and has not changed his stance on the disposal of the stadium.

“He shares everyone’s desire that the successful acquirer will take the club forward and understands that the acquirer will want the stadium matter resolved as soon as possible.

“It is clear that a successful outcome is dependent on Mr Morris’ assistance in terms of writing off substantial sums owed to him personally, and also in dealing with other issues relating to the stadium to include charge-holder interests, the existing lease and some historic lease arrears which have to be addressed.

“It is therefore not helpful for Mr Morris to be receiving personal threats against himself of members of his family, which have caused him and his family substantial anguish and could result in a very unnecessary and serious distraction.

“We should be grateful if supporters and other parties could refrain from passing comments of such nature and any such threats reported to the administrators will be taken very seriously. We can confirm that the preferred bidder is supportive of this position.

“Finally, the price for the stadium has been a constant and we are seeking to quickly resolve the ancillary issues relating to the stadium with all parties concerned.”

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