5pm deadline passes for Chris Kirchner to complete Derby County takeover

The American businessman was given less than 24 hours to complete the sale of the club. Credit: PA

The 5pm deadline for Chris Kirchner to complete the purchase of Derby County has passed with no update from any of the parties involved.

The administrators Quantuma gave the American businessman fewer than 24 hours to prove he's in a position to complete the transaction.

A spokesperson on behalf of the joint administrators said they were now engaging with other parties over the sale of the club, as a contingency measure.

In a statement issued yesterday they added: “As previously reported, the joint administrators exchanged contracts with Mr Kirchner on 16 May 2022. At the time there were a number of outstanding issues, which have now been resolved."

“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 5 pm on 10 June 2022 to provide satisfactory evidence to the administrators that he is in a position to complete, subject to EFL approval."

"We are aware that fans and stakeholders are concerned at the lack of official communications. It is, however, not appropriate for us to comment further on the current position as there is commercial confidentiality which needs to be protected."

"We can, however, confirm that there is a real willingness amongst all parties to complete a deal as soon as possible."

Meanwhile, The English Football League (EFL) say it was "incredibly disappointed" that the administrators have had to set Kirchner a last-minute deadline to rescue the club.

A statement said: "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.

"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."