Derby County given one month extension to provide proof of funding for rest of season

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Derby County

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Derby County given one month extension to provide proof of funding for rest of season

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SportsCafe Desk

01/27/2022

In a statement, the English Football League (EFL) have confirmed that they have given Derby County a four week extension to provide proof of funding for the rest of the season. The Rams are currently in a very precarious position as they face liquidation if administrators are unable to find a buyer.

Following mounting debt, it saw Derby Count deducted 21 points at the start of the season but things haven’t changed as the club are in administration at the moment. They are looking for buyers and have three potential options but so far neither have made a move because of impending litigation from Wycombe Wanders and Middlesbrough. However, with a February deadline, it had many fans concerned that the Rams wouldn’t be able to meet it.

But the situation has changed as the EFL have confirmed that they have given Derby County a four-week extension to provide proof of funding for the remainder of the season. The statement also revealed that the extension allows the club to continue the discussion with bidders and also seek “clarity on the claims from” Wycombe and Boro.

“Following a formal review of revised financial forecasts at Derby County, the EFL and Quantuma (the Club Administrators) have today agreed a month-long extension to the deadline set for proof of funding to be provided,” reads the statement on the EFL’s website.

“The EFL Board had previously requested evidence by 1 February 2022 of how Derby County was to be financed whilst it remained in administration, alongside a financial plan that determined how the Club would fulfil its fixture commitments until the end of the current season.

“Today’s development will allow the Club to meet its ongoing obligations whilst giving a further four weeks to continue the discussions with the interested bidders and relevant stakeholders in respect of a sale, alongside providing additional time to seek clarity on the claims from Middlesbrough and Wycombe.

“It is appreciated that many people have been waiting to receive an update over the last 48 hours but given the complexity and ever-changing circumstances, our priority has been to provide clarity once there is a definitive position. Our commitment as ever remains addressing the many challenges at hand and we will look to provide updates as soon as we are able to,” it added.

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