Chris Kirchner withdraws bid to buy Derby County after failing to come to an agreement

After Chris Kirchner announced his intention to buy Derby County in October, it had many fans overjoyed at the fact that the Rams could still stay in existence. However, with the deal taking its own time, the worry started to appear although Quantama, Derby’s administrators, had confirmed that there would be an announcement over a sale before Christmas.

But despite that, reports had indicated that Kirchner, a US businessman and founder of Slync.io, had withdrawn his bid after a failure to come to an agreement. That was later confirmed via a tweet from the American, who revealed that he made a formal offer to buy Derby two weeks ago, with him presenting the administrators a sustainable business plan. But Kirchner added that he improved the offer and yet failed to come to an agreement which is why he’s withdrawing his bid.

"First and foremost, I would like to apologise to the fans. As you know, I've been in talks with the administrators for about two months. Two weeks ago, I made a formal offer to buy the club. I believe I presented a very detailed, generous and ambitious long-term sustainable business plan. It included purchasing the stadium, future funding and maintaining the academy's status,” Kirchner said, via Twitter.

"We improved that offer further today. I wanted to agree a deal that I thought was in the best interests of all parties but, unfortunately, the last 24 hours has proven that just isn't possible. So it is with deep regret that I must now stand aside and let the administrators pursue their own course.

"As I did when I entered the process, I want to be transparent in this process and communicate to the fans first and directly. I'm just very sorry it's not better news. I wish all Derby supporters and everyone at the club all the best for the future. My team and I are going to move forward into club ownership as was our goal when we set out and are moving forward,” he added.