Bad news for Derby County supporters as one of the major perspective buyers of the club, Chris Kirchner has withdrawn his bid to buy the embattled Championship club.
The American businessman was expecting that he would be announced the new owner of the Championship side before Christmas this year but it was not to be.
Chris Kirchner was one of the three perspective buyers of the club that is currently being managed by administrators. He was seen as a favorite bidder because he has the support of the club’s coach and icon, Wayne Rooney.
Though he did not reveal why he decided to withdraw his bid, it was reported that the American businessman was not pleased with the Administrators’ decision to delay the process even though the club is struggling in the league.
Recall that the club slid into administration in September after the club failed to generate enough revenue to run the club.
Derby County‘s woes got worsened in November after the English Football League (EFL) decided to deduct 9 points from the club’s accumulated points in the 2021-2022 season. While a further three points have been suspended.
The EFL had to deduct the points after Derby County admitted that they breached the Profitability and Sustainability (P&S) rules of the league body. So far this season, the EFL has deducted 21 points from Derby.
Hence, the club are currently sitting at the bottom of the Championship league table with 4 points in 22 matches. They are 17 points away from relegation.
In a statement Chris Kirchner issued to announce his decision to withdraw from the bid to buy Derby County, the American businessman apologized to the fans of the club for not being able to continue with the transaction.
Kirchner revealed that he has been pursuing the dream of buying the club for two months, hence, he is sad to withdraw from the process.
“It is with real sadness that I can confirm I am withdrawing from the process to buy Derby County Football Club”, he wrote.
“First and foremost, I would like to apologize to the fans. As you know, I’ve been in talks with the administrators for about two months.
“Two weeks ago, I made a formal offer to buy the club. I believe I presented a very detailed, generous, and ambitious long-term sustainable business plan. It included purchasing the stadium, future funding, and maintaining the academy’s status. We improved that offer further today.
“I wanted to agree on a deal that I thought was in the best interests of all parties but, unfortunately, the last 24 hours have proven that just isn’t possible. So it is with deep regret that I must now stand aside and let the administrators pursue their course.”
Two weeks ago, I made a formal offer to buy the club. I believe I presented a very detailed, generous and ambitious long-term sustainable business plan. It included purchasing the stadium, future funding and maintaining the academy’s status. We improved that offer further today.— Chris Kirchner (@cskirchner) December 23, 2021
As it stands, the administrators handling the club are expected to announce a new owner of the club before the end of February 2022.