Clowes Developments finalise takeover of Derby

Derby's future has been secured after Clowes Developments completed their takeover at Pride Park, the club’s joint administrators have announced.

Quantuma have confirmed the deal has been finalised for an undisclosed fee and the Rams have finally exited administration in time for the 2022/23 season.

"Quantuma joint administrators, Andrew Hosking, Carl Jackson and Andrew Andronikou are delighted to confirm the completion of the sale of the business and assets of Derby County Football Club ("The Club") to Derbyshire based property group, Clowes Developments (UK) Ltd ("Clowes") for an undisclosed amount," Quantuma said in a statement.

"The transaction sees the Club exit from administration and be brought under the same ownership structure as its stadium, Pride Park."

Quantuma announced on Sunday they had formally accepted local property developer David Clowes’ offer to buy the Sky Bet League One club and hoped to conclude the sale on Wednesday.

Clowes, via his company Clowes Developments, emerged as the potential new owner of the Rams after American businessman Chris Kirchner withdrew his offer to buy the club.

The Rams had been in administration since September last year and fears over their future increased last week when Kirchner withdrew his offer.

Derby, whose debts have been reported to be in the region of £60m, were docked a combined 21 points last season – 12 for entering administration and a further nine after admitting they breached EFL financial regulations.

The Rams were relegated to Sky Bet League One in April and will compete next season in English football’s third tier for the first time since 1986.