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https://www.efl.com/news/2022/may/efl-statement-derby-county-update/

The EFL Board has today given its conditional approval to the proposed acquisition of Derby County Football Club by the company controlled by Mr Chris Kirchner (9CK Sports Holdings Limited).

The EFL and 9CK Sports Holdings Limited have agreed the terms of a Membership Agreement which will govern the conditions attached to the transfer of the share in the EFL and which ultimately will see the Club exit Administration.

However, its final approval is subject to Mr Kirchner completing on the Asset Purchase Agreement and a deal being finalised in respect of a lease on the stadium by 31 May 2022.

The EFL will continue to work with the relevant parties to ensure the best possible outcome for Derby County, its staff, players, fans, and local community.

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Lot of Derby fans at work worried as news is coming out that MM Prop Consultancy, owned by Mike Ashley's future son-in-law, has offered Morris the asking price for the stadium. 

Means that Fraser Group would own the stadium and Kirchner would have to lease it off Ashley. That could get interesting as the EFL won't let them move to Leicester or Stoke. 

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Whilst EFL don't want to be seen to be the throwing Derby under the bus it stinks how long this has gone on for with little consequence. It's the fans the have to live with the fall out and whilst there is no love lost there it's equally concerning that the EFL don't seem to have a plan for this situation other than to keep kicking the can down the road. 

 

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1 hour ago, Tank_Owl2,0 said:

Whilst EFL don't want to be seen to be the throwing Derby under the bus it stinks how long this has gone on for with little consequence. It's the fans the have to live with the fall out and whilst there is no love lost there it's equally concerning that the EFL don't seem to have a plan for this situation other than to keep kicking the can down the road. 

 

Little consequence? 

 

21 points deducted

 

 

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  • 2 weeks later...

We'll, today is deadline day and another extension has been granted. Today is Memorial Day and Kirchner has said he can't move his funds today as it's a federal holiday.

Administrators have released a statement saying the deadline is now the end of tomorrow but there's rumours coming out that's he's lost a fortune on the crypto crash and is struggling for investors 

Edited by Tylluan
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8 hours ago, Tylluan said:

We'll, today is deadline day and another extension has been granted. Today is Memorial Day and Kirchner has said he can't move his funds today as it's a federal holiday.

Administrators have released a statement saying the deadline is now the end of tomorrow but there's rumours coming out that's he's lost a fortune on the crypto crash and is struggling for investors 

Surely it was Memorial Day when the deadline was announced?

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Why do people like Kirchner commit to buying clubs when they don’t have the wherewithal to conclude the deal?

Surely it costs a fortune just to go along with the charade, but with nothing to show for it at the end?

And why are administrators so gullible?

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How long did Bury get before losing their EFL share? 

Rooney is now rethinking his position and may walk away. The fact they can't pay his wages might have something to do with it. 

Ashley may come back in but his original offer was on condition Morris paid the tax bill. 

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24 minutes ago, M42Owl said:

Why do people like Kirchner commit to buying clubs when they don’t have the wherewithal to conclude the deal?

Surely it costs a fortune just to go along with the charade, but with nothing to show for it at the end?

And why are administrators so gullible?

We had plenty of fucking numpties hanging around in the past, Sheard et al 

I suppose in the world I work in you occasionally happen upon these types - the skill is to avoid them. What i found is that they rarely had any of their own money to waste and used others to fund their dalliances by promising the world and delivering nothing 

 

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Is the problem in closing the deal that he has no money!

Surely proof of funds blah blah blah should have happened months ago etc. At what point are the EFL going to tell them to they can't start the season? We must be approaching the date when fixture get released and they will need to know they can fulfill the fixture before then. As someone's said on the thread Bury didn't get the same treatment.

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He’s had all the hall marks of a chancer. We’ve had them here. The ones on Twitter and in the stadium giving it the thumbs up are just trying to get leverage. The best deals are done privately and without anyone waiting for the cash to hit the bank. 
 

What are the implications now? Another deduction or worse?

I know chansiri hasn’t been everyone’s cup of tea but in the context of competing with parachute cash, a loss making industry etc he has at least put his money up when required and seemingly continues to do so. Shows how badly it could go if he didn’t! It seems there are only chancers out there at the moment. 

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3 hours ago, HoylandOwl said:

Logging into online banking, editing the HTML, so it shows they have a gazillion. And the EFL fell for it? 
 

I don’t want to defend the EFL, but did they fall for it? Or did they put too much trust in the administrators?

If the Administrators, supposedly a bunch of competent accountants, signed contracts with Kirchner, surely that should be enough for the “have they got enough money” aspect of the fit and proper test?

Its the administrator that should be answering some awkward questions.

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4 hours ago, HoylandOwl said:

Logging into online banking, editing the HTML, so it shows they have a gazillion. And the EFL fell for it? 
 

In fairness I wouldn't expect the EFL to check the specifics themselves each affected party should have solicitors that should be checking all this.

I can't buy a house without being able to prove to a solicitor I have the funds to finance it, surely this can't be any different?!

Clearly I'm no accountant, but isn't the usual way of doing this that prior to the exchange of contracts the funds would be held in ESCROW?

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EFL organised a meeting at 5pm and still going on. 

Only rumours but I'm hearing, from Derby fans, that they have until the 13th for someone to show definite proof of funds, for Derby to appear on the fixture list, and until EOD June 30th for a deal to go through. Apparently this is to let Ashley take over as the EFL are 'happy' he'll have the money. 

The rumour goes if they're still in admin by July 1st then it's hello AFC Derby in the Central league. If that does happen I wonder if Gillingham and Solihull will move up? 

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