I didn't think a business in administration was allowed to borrow money, this can't be allowed by the EFL can it? Oh hang on....
That was a couple of weeks ago. They bought the ground but loaned money to the club that they now own. Is the impression I get.
Seems appropriate... I happened to play this in Worthing in Sussex at a wedding on Saturday. "Have you ever been close to tragedy Or been close to folks who have? Have you ever felt a pain so powerful So heavy you collapse No, well"
The new owners paid £22m. For the stadium a week before they (as preferred bidders) were to take over the club. The loan they provided themselves to the club was prior to takeover. It was very hush hush on the stadium purchase at the initial stage. Companies House update on Pride Park explained Football finance expert Kieran Maguire says the purchase of Pride Park stadium cost Clowes Developments £22million. Companies House records formally showed the removal of Mel Morris as a director of the stadium's holding company and installation of Clowes and his colleagues.
Disgraceful!!, and they have now avoided a right old banging points wise, for this season. Which they deserved of course, but it's no surprise is it!. Put your brass on them to spend and buy a Play off place this season!.
Not necessarily they need to be out of admin and have agreed to pay at least 25p in the pound to none football creditors I’m not quite sure how it works and timescales involved and they may well avoid a points deduction we will see
In fairness to a Derby county fan on TalkSport this morning, I think they were just relieved to still have a club. They said that they didn’t want to be a fan of Wayne Rooney’s Derby County or Frank Lampard’s Derby County and it was just important they stay in the division and rebuild.
No real details but still some restrictions As part of the conditions of continuing membership in the EFL, the Club, whilst remaining under a registration embargo, will be permitted to sign new players in accordance with the terms of a business plan. The plan, which has been jointly agreed by the new ownership and the EFL, includes restrictions in respect of transfers fees, player wages and agents’ fees. Any application to register players must comply with the terms of those agreed plans.