Players.bio is a large online platform sharing the best live coverage of your favourite sports: Football, Golf, Rugby, Cricket, F1, Boxing, NFL, NBA, plus the latest sports news, transfers & scores. Exclusive interviews, fresh photos and videos, breaking news. Stay tuned to know everything you wish about your favorite stars 24/7. Check our daily updates and make sure you don't miss anything about celebrities' lives.

Contacts

  • players.bio

Kirchner meets with EFL to discuss proposed Derby takeover

Derby County's prospective new owner, Chris Kirchner, met with the EFL on Tuesday to discuss his planned takeover of the club.

Sky Sports News has been told Kirchner told the league's bosses, in order to deal with the club's debts, he has offered to pay non-football creditors 35p in the pound over the next three years. That is a deliberately-targeted figure.

The EFL's insolvency rules state unsecured creditors must be paid immediately at 25p in the pound, or over a three-year period at 35p in the pound - otherwise the club in question will be liable for a further 15-point deduction.

Negotiations are ongoing with HMRC over an outstanding tax bill that is in excess of £30m.

Kirchner was recently confirmed as the preferred bidder to buy Derby and granted exclusivity by the administrators to try to complete a deal to take over the East Midlands club.

He appeared to be out of the running to take over the club when he withdrew his original offer just before Christmas and turned his attention instead to Preston North End, but talks broke down.

As preferred bidder, Kirchner will have exclusivity in accessing all of Derby's confidential accounts and give him preferential status to complete a takeover of the club.

Any change of ownership is unlikely to happen for two months at least, Sky Sports News has been told, and there are still many more barriers to overcome.

The most significant hurdle is the ownership of Pride Park, which still belongs to Mel Morris, and a separate deal to either purchase or lease the stadium to Kirchner will need to be agreed.

Then there is the lengthy due diligence needed for Kirchner's accountants to study all of Derby's finances, and further negotiations with creditors to clear the club's debts.

Howev

Read more on msn.com
DMCA