Friday, August 12, 2022

Derbyshire property group to submit bid for Derby County following stadium purchase

Derbyshire-based property group, Clowes Developments (UK) Ltd, have purchased the company that owned Pride Park Stadium from fellow local businessman Mel Morris.

Additionally, Clowes have issued an interim loan to the Club which will enable Derby County to start the next season and trade whilst a deal to purchase the Club is concluded.

Clowes have also confirmed that they will, today, submit a bid to purchase Derby County Football Club.

David Clowes, chairman of Clowes Developments (UK) Ltd, led the negotiations and said: “With a deadline looming and the start of the next season getting closer, we needed to do something.

“As a local and established property company, purchasing the stadium seemed the obvious first step. Secondly, as a proud Derby supporter, it was inconceivable to me that the Club was at risk of falling away. We’ve worked tirelessly behind the scenes on the stadium purchase and loan agreement to be able to get the Club going again in time for the next season.

“Players, staff and fans needed some good news, and we are delighted to play a part in delivering that.”

It is intended that this step forward will help to alleviate some of the growing pressure, allowing more time to make the right decisions for the future of the Club. The acceptance of Clowes’ offer and swift completion of a deal will also allow the Club to get ready for the upcoming season.

Derby County can then start rebuilding a full team, confirm contracts, prepare for fixtures and allow the commercial aspects of the business to get going and start bringing in the much-needed income for the Club. Staff can plan for the next season and arguably, most importantly, dedicated fans can purchase their tickets.

The purchase of the Pride Park Stadium completed on Friday 17 June 2022. All parties agreed to keep the transaction confidential until the loan agreement was complete and announce recent developments at the same time. The loan agreement has now been formalised which has enabled the announcements to be made.

Rumours and speculation have been circulating in the media for the last few months regarding the future of the Club but, today, all parties have officially confirmed the purchase of Pride Park Stadium, announced the interim loan and the submission of a bid for the Club by Clowes Developments. The negotiation of agreements were conducted privately between all parties concerned. Mel Morris, Clowes Developments, Quantuma and the EFL have worked collaboratively to agree the deals which will help to secure the future viability of Derby County Football Club.

Clowes Developments’ representative said: “Clowes Developments would like to formally thank all parties involved in the deals to date. Collectively we have paved the way for a positive outcome for the future of Derby County Football Club. We would like to take the opportunity to thank our respective teams of professional advisors who have helped us
to successfully purchase the company that owned Pride Park Stadium, secure the loan agreement and confirm the submission of a bid to purchase the Club.

“It must be recognised that great business comes from handling transactions with respect and an open mind. We are very happy to have been able to resolve the issues relating to the ground and are pleased to be in a unique position to help get the Club get ready for the next season. We have made sound professional relationships to date which we hope will continue to prosper from here on out.

“Derby County Football Club are now a few steps closer to exiting administration with the hope of a new owner for the Club just around the corner, an opportunity to move forward with a clean slate.”

All parties are dedicated to rebuilding the Club. Clowes Developments, for which many of their staff are loyal Derby County fans, are excited to resume ‘business as usual’ and support them in League One.

David Clowes, chairman at Clowes Developments (UK) Ltd, added: “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.”

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