Derby clear to start season after loan from local firm targeting takeover | Derby

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Derby directors have said the club will be able to start the season after receiving a loan from a local property group trying to complete a takeover.

The future of the League One side has been in doubt since American businessman Chris Kirchner pulled out of a deal to buy the club early last week.

The joint administrators held talks with interested parties and said on Friday Derby’s immediate future was secure. The loan came from Clowes Developments, whose chairman, David Clowes, is a Derby fan. His company bought the stadium, Pride Park, and these moves are expected to precede a takeover.

“The joint administrators are very pleased to be able to confirm that, after a period of negotiation, Derbyshire-based property group Clowes Developments (UK) Ltd (“Clowes”) have provided the club with an interim loan,” a statement said. spokesperson. “This loan will allow the club to start the coming season and continue to trade.

“The Joint Trustees welcome Clowes’ earlier statement confirming that a successful acquisition of the club’s stadium, Pride Park, [was] ended June 17, 2022, and they look forward to continued positive discussions over the coming days.

“All parties recognize the urgent need to complete a sale of the club’s business and assets.”

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    Derby, relegated last season, will start their season at home to Oxford on July 30. David Clowes said: “As a local and established property company, buying the stadium seemed the obvious first step. Secondly, as a proud Derby supporter, it was inconceivable to me that the club was in danger of falling.”

    He continued: “It is expected that this step forward will help alleviate some of the mounting pressure, allowing more time to make the right decisions for the future of the club. The acceptance of our offer and the speedy conclusion of a An agreement will also allow the club to prepare for the coming season.”

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