The administrators of Derby County Football Club have confirmed that American business man, Chris Kirchner has withdrawn his offer to take over the club.
In a statement they said that there are other interested parties, who are showing willingness to complete a deal as soon as possible.
Former Newcastle owner Mike Ashley is among those interested in purchasing Derby, who were relegated from the Championship last season after being docked 21 points over their financial problems.
A spokesperson on behalf of the joint administrators of Derby County Football Club said: “The joint administrators can confirm that today, Mr Kirchner has withdrawn his offer to acquire the business and assets of The Club.
“We are aware that some will be concerned by this news, however, the joint administrators wish to reassure The Club’s staff, players and supporters that they are continuing to actively engage with a growing number of interested parties, each of whom have a real willingness to complete a deal as soon as possible.
“The joint administrators would remind all stakeholders of the process in place for those parties who wish to acquire The Club. The joint administrators are running a competitive bidding process. Bids should be best and final and not contain any referential element. Clearly, any bid is subject to interested parties entering into an NDA, accessing the data room, and undertaking their own due diligence. Of the parties we are engaging with, some are more progressed in this process than others.”
An EFL spokesperson said: “Following receipt of notification that Mr Kirchner has formally withdrawn from the process to purchase Derby County Football Club, the League reiterates its commitment, made over the weekend, to work proactively alongside the Administrators of the Club.
"As they continue to engage with a number of interested parties, so that the objective of concluding a sale is achieved at the earliest possible opportunity.”