Derby have enough money in place to complete season, EFL told

A deadline for the Sky Bet Championship club to provide proof of funding had passed last week

Derby’s administrators have told the EFL they have enough funding in place for the remainder of the season (Zac Goodwin/PA) (PA Wire)

The English Football League has been told by the administrators of Derby that the Championship club have enough funding in place for the remainder of the season.

On Monday, the EFL requested an “urgent” update from administrators Quantuma after a deadline to provide proof of funding passed last week without any further information.

Quantuma issued a brief response on Wednesday which detailed they were considering bids for the Rams, but they have since been in touch with the league’s organisers to provide further information.

While Derby still face “a number of challenges” according to the EFL, Wayne Rooney’s side look set to be able to continue their battle to avoid relegation on the pitch while efforts off it focus on finding a new buyer for the club.

“At its meeting today (Thursday) the EFL Board considered the latest information provided by Quantuma, including their forecast which showed the club has sufficient cash to trade until the end of the season,” an EFL statement read.

“It is clear that there are still a number of challenges to be dealt with by the Administrators as they work to confirm the preferred bidder status and exit the club out of Administration.”

The EFL had stated on Wednesday it was “deeply concerned” at the lack of progress or information provided over a potential buyer and the club’s evidence of funding.

Quantuma revealed on the same day they hoped to “shortly” name a preferred bidder for the Pride Park outfit.

Derby are fighting for survival (Isaac Parkin/PA) (PA Wire)

That statement said: “The joint administrators of Derby County Football Club are currently considering bids for the club, following deadlines set for offers at the end of last week.

“Further requests for clarity from prospective purchasers have been sought and we hope to be able to name the preferred bidder shortly.

“We are aware that everyone connected to the club wants to see its future resolved as soon as possible. Our duty is to ensure we secure the best long-term outcome for Derby County and we are working hard to achieve this objective.”

On January 27, the EFL and the administrators agreed a four-week extension to the deadline to provide proof of funding.

Fears that Derby, a founder member of the Football League, could be liquidated had receded when it was announced earlier this month that Middlesbrough had reached an accord with former Rams owner Mel Morris over their legal claim against the club.

The Boro claim, plus a further one from Wycombe, had been cited as obstacles to a takeover. There has been no update from Wycombe or the administrators concerning that claim.

The US-based Binnie family made a formal bid for the club in January, while a consortium put together by General Sports Worldwide is also interested in buying the Rams.

Derby were placed in administration last September by Morris. The club have been deducted 21 points for entering administration and for admitted breaches of EFL financial regulations.

The team are fighting for survival under England’s record goalscorer Rooney and sit eight points from safety having played a game more than 21st-placed Reading.