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Derby County: David Clowes completes takeover of League One club
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Derby County: David Clowes completes takeover of League One club

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Split image of David Clowes and the Derby County logo

Derby County’s takeover by local property developer David Clowes has been completed, ending the League One club’s nine months in administration.

The lifelong Rams fan, 53, already owns the club’s Pride Park ground and had provided Derby with a loan to ensure it can start the upcoming season.

His purchase, through his company Clowes Developments, means a transfer embargo has been partially lifted.

Clowes stepped in after a proposed takeover by Chris Kirchner collapsed.

That deal falling through led to Wayne Rooney quitting as manager, with his assistant Liam Rosenior being placed in interim charge.

Joint administrator Carl Jackson said: “We are very pleased to have achieved today’s sale, in a deal which secures the long-term future of the club.”

Derby will now be able to bring in players, but some restrictions will stay in place.

In a statement, the English Football League said: “The EFL welcomes confirmation from the joint administrators of Derby County FC, Quantuma, that they have today formally concluded the transfer of assets with Clowes Developments (UK) Limited to place Derby County under new ownership.

“Consequently, the EFL can now confirm that the club has met the requirements of the League’s Regulations and Insolvency Policy and is therefore no longer in administration.

“As part of the conditions of continuing membership in the EFL, the club, whilst remaining under a registration embargo, will be permitted to sign new players in accordance with the terms of a business plan.

“The plan, which has been jointly agreed by the new ownership and the EFL, includes restrictions in respect of transfers fees, player wages and agents’ fees. Any application to register players must comply with the terms of those agreed plans.”

More to follow.

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