Latest News | 1 July 2022

Property group completes deal to buy Derby County

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Clowes Developments has completed a deal to buy Derby County, taking the club out of administration.

The Derbyshire-based property group has taken full ownership of the Rams after finalising a deal with the club’s administrators.

It means that the club has come out of administration, where it had been placed by former owner Mel Morris in September.

Speaking about the takeover, David Clowes, chairman of Clowes Developments, has said: “As a long-standing loyal supporter, I am personally delighted that we are in a position to be able to secure the future of the football club. This is a very proud and humbling moment for Clowes Developments.”

Councillor Chris Poulter, leader of Derby City Council, said: “This news is monumental. A buyer from Derby, doing it for Derby – we can’t ask for more than that.

“It’s now time for us to come together and work towards the long-term stability of the club.”

John Forkin, managing director of Marketing Derby, said: “The past few months have reinforced the importance of Derby County to the communities and economies of Derby and Derbyshire.

“Marketing Derby welcomes the purchase, which draws a line on administration and allows Derby County to start its next chapter.”

It has been a turbulent last 10 months for Derby County since it was put into administration.

Last season, the club was relegated from the Championship to League One after being deducted 21 points for going into administration and breaches of English Football League accounting rules had been accepted.

In that time, there had been a number of failed attempts to buy the club, which has faced a race against time to find a new owner before the new season starts.

However, last week, Clowes Developments announced it had bought the company that owns Pride Park Stadium from Mr Morris – and had supplied the club with an interim loan to allow it to start the coming season and trade while a deal to purchase the club was concluded.

The company also announced its intention to submit a bid to buy the club – and at the weekend administrators Quantuma confirmed that it had “formally accepted” Clowes’ takeover offer, which has now gone through.

At the time, Mr Clowes said: “As a proud Derby supporter, it was inconceivable to me that the club was at risk of falling away.”

The campaign to save the Rams attracted overwhelming support, both from Derby County fans and the wider football community.

At the height of the Rams crisis, Team Derby, a group made up of Marketing Derby, Derby City Council and local MPs, was formed to highlight Derby County’s plight at local and national level, while helping move the sale of the club forward.

Mr Forkin said: “As an active member of Team Derby we have worked with Derby City Council, MPs and businesses to help move the process forward and we are especially pleased to see local ownership of the club and stadium established and congratulate David Clowes, and Clowes Developments, on his considerable investment.

“Marketing Derby is proud to have played a key part in making that introduction and, for us, this is the perfect Bondholder to Bondholder deal.”

Councillor Poulter said: “Derby County is at the beating heart of our city and its communities. It plays a huge part in the social, economic and cultural fabric of the city.

“Alongside fans, Team Derby has worked tirelessly to ensure the survival of the club and has shared the ups and downs of the journey.

“After what has been a turbulent few months, supporters – ourselves included – are extremely hopeful.

“A new owner will bring clear leadership, and a vision for the club’s future, and as a proud Derby fan himself, David is a fantastic choice to bring that to fruition.”

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