The 5pm deadline for Chris Kirchner to complete his deal to buy Derby has passed without progression

Chris Kirchner withdraws Derby County bid | Soccer News

Chris Kirchner has drawn his bid to buy Derby County.

Concerns over the club’s future have mounted since Kirchner, who exchanged contracts committing to buy the club last week, failed to transfer the necessary cash before Friday’s deadline.

The EFL had written to administrators, Quantuma, expressing real concern that Derby will not be able to field a team next season, “risking the integrity of the competition”.

An update from the joint administrators of Derby County was issued on Monday evening, confirming the American businessman’s withdrawal.

A spokesperson on behalf of the joint administrators said: “The joint administrators can confirm that today, Mr Kirchner has withdrawn his offer to acquire the business and assets of The Club.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.”

More to follow….

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