Any party who is interested in purchasing troubled Derby County will have to prove they have £5 million in funding to look at the club’s financial books, according to journalist Alan Nixon.
Derby County. Admins won’t be be entertaining time wasters. All interested parties need to show they have 5m in a bank account. Then they can go to see the books in detail …
— Alan Nixon (@reluctantnicko) September 29, 2021
The Rams went into administration last week with owner Mel Morris unable to fund the club any longer, and they immediately plummeted to the bottom of the Championship after suffering a 12-point deduction.
Further punishment from the EFL could be set to come but in the meantime, the club’s administrators Quantuma are looking for potential buyers of the struggling club.
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Lead administrator Andrew Hosking revealed last week that there are at least six serious parties interested in taking over at Pride Park, but anyone who wants access the breakdowns of the finances at County must prove that they have £5 million in cash first.
The club are thought to have £200 million worth of debt attributed to them – although Morris is set to write off a figure to the tune of £100 million of that which he gave to the club over the years as a ‘soft loan’, per the Daily Mail.
Considering the size of the club, there won’t be any shortage of serious suitors, but they’ve already been given the run-around by two chances in Sheikh Khaled and Erik Alonso in 2021.
There will be a lot of skepticism amongst Derby fans because of those particular situations but it’s easier when a club is in administration to do a deal as the running costs generally get smaller over the months.
There’s quite a bit of debt to clear at the club so any potential suitor will need very deep pockets, so the £5 million of proof of funds needed just to see the books is very small-fry taking into account what will actually be needed to keep the club going and push them on.
And when the books are seen by prospective purchasers it could either make them willing to do a deal or it could end up making them run a mile – there’s still a long way to go in this saga.