Derby given extra month by EFL to prove they can finish season

Derby’s administrators and the English Football League have agreed a one-month extension to the deadline set to provide proof of funding.

A joint statement from the club administrator, Quantuma, and the EFL said the decision had been reached after “a formal review of revised financial forecasts” at the Championship club.

The previous deadline to show that Derby had the funds to complete the season had been next Tuesday. The EFL said last week that the administrators had told them the club would “run out of cash” next month.

The statement said: “Today’s development will allow the club to meet its ongoing obligations whilst giving a further four weeks to continue the discussions with the interested bidders and relevant stakeholders in respect of a sale, alongside providing additional time to seek clarity on the claims from Middlesbrough and Wycombe.”

Middlesbrough are seeking about £45m after being pipped to a Championship play-off place by Derby in 2019, and Wycombe at least £6m because Derby stayed up by a point at their expense after breaking league rules.

The extra month also allows more time for Derby’s debt to HM Revenue & Customs to be addressed. The club are thought to have had positive conversations with HMRC over an agreement to pay significantly less than the £29.3m they owe.

Last week the Binnie family, founders of the investment firm Carlisle Capital, submitted a bid for Derby worth about £28m, which they believe to be the asking price, and that could trigger the former Derby chairman Andrew Appleby or former Newcastle owner Mike Ashley into bidding.

The Guardian