Chris Kirchner given Friday deadline to prove he can complete Derby takeover

Chris Kirchner has been given until Friday afternoon to provide satisfactory evidence that he is in a position to complete his takeover of Derby.

Administrators for the League One club have also opted to engage with other interested parties as a contingency measure, with the former Newcastle United owner Mike Ashley among the interested parties.

The US businessman Kirchner and the joint administrators exchanged contracts on 16 May but, while the purchase agreement remains in place, a deal is yet to be finalised.

The English Football League said it was “incredibly disappointed” by the latest update and called for a resolution “as a matter of urgency”. “At the time (of exchanging contracts) there were a number of outstanding issues, which have now been resolved,” read a statement from the joint administrators of Derby.

“However, certain logistical issues mean that completion has still not taken place. Accordingly, the joint administrators have taken the decision to engage with other interested parties as a contingency measure.

“The sale and purchase agreement with Mr Kirchner currently remains in place and Mr Kirchner has been given until 5pm on 10 June 2022 to provide satisfactory evidence to the administrators that he is in a position to complete, subject to EFL approval.”

Derby were relegated from the Championship last season after being deducted 21 points after falling into administration. Kirchner’s ownership of the club has already been given conditional approval by the EFL.

While the administrators Quantuma said there remains a “real willingness among all parties” to conclude negotiations, the league expressed frustration at the protracted nature of proceedings.

“The EFL is incredibly disappointed with this evening’s announcement by Derby County’s administrators that Chris Kirchner has failed to complete the purchase of the club,” read an EFL statement. “It is imperative that this issue is resolved as a matter of urgency.

“The league will continue to engage with Quantuma as they now hold discussions with third parties and will support as appropriate the club as it seeks to exit administration.”