Derby County are £83 million in debt and have only £630,000 in the bank as they wait for a saviour from Wayne Rooney.
Derby County are £83 million in debt and have only £630,000 in the bank as they wait for a savior.
The administrator’s official report reveals the full extent of County’s financial mess and paints a bleak picture of former owner Mel Morris’s management of the Championship club.
According to a Quantuma statement, the Rams’ £83 million debt does not include a further £153 million owed to the Rams’ share premium account, a’soft loan’ from Morris, who is set to write off the loss.
However, it is clear that money is running out at Pride Park as US businessman Chris Kirchner tries to close a deal quickly.
Wayne Rooney’s team has not yet been asked to take pay cuts, but that appears to be a foregone conclusion unless a quick rescue plan is devised.
The administrators are currently in talks with HMRC, who are awaiting £26 million in tax and a VAT bill of £554,774 from the administrators.
MSD, an American investment firm, is owed £20 million, which will be repaid by Morris from the sale of the stadium to a new owner.
Various clubs are owed £8.3 million in transfer fees.
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While these must be paid later, they are not required to be paid prior to a takeover.
Morris and his son Steven, doing business as Sevco 5112, are unsecured creditors owed £8.1 million.
WMG is owed £1 million, and many other agents are owed six-figure sums.
In addition, the EFL has yet to repay a £584,000 Covid loan, while club employees are owed £242,666 in deferred wages from that time.
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