Derbyshire-based property group Clowes Developments’ bid has been accepted for the purchase of Derby County. It was reported that the group would submit a bid to buy the club after purchasing the Pride Park Stadium. Clowes has also issued a loan that will help the club to buy players while the deal is being completed. The provisional date for the completion of the deal is June 29.

“Over the course of the last day or so, the joint administrators have continued positive discussions with Derbyshire-based property group, Clowes Developments (UK) Ltd (“Clowes”) which resulted in a credible and acceptable offer being submitted,” a statement by the administrators said after Clowes Developments’ bid to buy Derby County was accepted. “Discussions in respect of this offer, which complies with the EFL Insolvency Policy, have taken place with a range of stakeholders. The joint administrators are delighted to confirm that they have formally accepted Clowes’ offer to acquire Derby County Football Club (“The Club”) out of administration. Clowes has been granted preferred bidder status with immediate effect.”

“The joint administrators will now enter into a period of exclusivity with Clowes, with completion of the acquisition of the business and the assets of the Club targeted for 29 June 2022. All parties are now working hard to conclude what is still a complex legal transaction within a very short timeframe,” the statement added. “Once concluded, the transaction will enable the Club to move forward and prepare for the upcoming season out of administration. The acceptance of Clowes’ offer and the entering into a period of exclusivity means the joint administrators are now prohibited from continuing discussions with other parties who had indicated an interest in acquiring the Club. The main focus is now on concluding the transaction with Clowes within the targeted timeframe.”

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