American businessman Chris Kirchner has been named as the preferred bidder of Nottingham Forest’s East Midlands rivals Derby County.
The Rams have been in administration for almost seven months as a takeover saga has rumbled on at the club. The announcement of a preferred bidder has now been described as a ‘significant milestone'.
In a statement released by the club’s administrators Quantuma, the update was confirmed. “We are delighted to be able to name Mr Kirchner as preferred bidder, which the Joint Administrators consider represents the best deal for creditors and one which will secure the long-term future of the Club," said Carl Jackson, joint administrator.
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"The naming of our preferred bidder represents a significant milestone in the administration and we look forward to working with Mr Kirchner and his team to complete the sale of the Club.”
The news comes after Kirchner initially withdrew his interest in the club back in December. The decision came after the administrators said that his bid had fallen below other offers that they were expecting for the club.
The American then switched his interest to purchasing Preston North End but reignited his interest in Derby after a deal for the Deepdale club fell through. Being the preferred bidder for Derby gives Kirchner exclusivity and preferential status to complete a takeover of the club.
“Following a rigorous and well-documented marketing process, the joint administrators of Derby County Football Club (“the Club”) have accepted an offer from Chris Kirchner to acquire Derby County Football Club out of administration,” the statement read. “This follows receipt of his recent bid for the Club. The bid is for the purchase of the football club only with the terms of the club’s ongoing occupation of Pride Park stadium to be negotiated with external stakeholders.
"Mr Kirchner had initially expressed an interest in acquiring the club in late 2021; and the joint administrators have welcomed Mr Kirchner’s renewed interest.
"Discussions have taken place with key stakeholders, and Mr Kirchner has been named as the preferred bidder for the Club, with immediate effect.
"The joint administrators have entered into a period of exclusivity with Mr Kirchner and his advisers, during which further operational, commercial and contractual discussions will take place."
