The EFL has insisted on an urgent update from Derby County’s administrators with evidence of adequate funding for the club to complete the season.
The Football League has also demanded further information on the appointment of a preferred bidder, which is widely expected this week.
‘On 27 January the EFL and Derby County’s Administrators, Quantuma, announced a four-week extension to the deadline for the provision of evidence of sufficient funding to complete the current season,’ the EFL statement said on Monday.
Derby boss Wayne Rooney has worked miracles with the club in administration
‘The Administrators have not yet provided that evidence, and we await an urgent further update from them on both that and the announcement of a preferred bidder.’
Derby County has been in administration for five months.
On January 27, Derby was given a four-week stay of execution after the EFL agreed to extend the deadline for the club’s administrators to show there were sufficient funds to complete the season.
The EFL and Quantuma said the stay of execution would allow Derby to continue discussions with interested parties and provide ‘additional time to seek clarity on the claims from Middlesbrough and Wycombe’, which had filed compensation claims.
The dispute between Middlesbrough and Derby, which was the most pressing issue, was subsequently addressed, when the Rams’ former owner, Mel Morris, and Boro’s chairman, Steve Gibson, held talks.
Nottingham Forest beat Derby 2-1 in their 100th league meeting in January
Under the leadership of Wayne Rooney, and backed by passionate support, Derby have been putting in a huge effort on the pitch, and it appeared progress has been made off it.
Despite a 21-point deduction – a combination of penalties for going into administration and breaking financial rules – Derby currently sit second bottom of the Championship, eight points from safety.
However, with 12 games to play the club’s manager, players and fans insist they ‘will fight to the end’.
With the Middlesbrough conflict addressed, the way was cleared for Quantuma to appoint a preferred bidder, who could then enter into detailed discussions with creditors and begin the process of bringing Derby out of administration.
However, events have proceeded more slowly than many expected.
Derby County’s players and fans have rallied to help save the club on and off the pitch
Sportsmail understands that steps taken in January, which include the sale of players and additional borrowing mean there is not an immediate crisis in funding. However, it may that a buyer will need to be in place to fully fund the season.
Quantuma had been expected to unveil a preferred bidder at the end of last week, but no announcement was forthcoming. It is believed the administrators required further clarification on details of the bids.
The EFL’s rules require a buyer to pay full creditors – other clubs – in full with other creditors receiving 25 pence in the pound.
The Sun has claimed that the size of the offers from bidders are insufficient to pay 25 pence in the pound to those creditors.
If that threshold is not met the EFL can impose a further 15-point deduction next season, whether Derby are in the Championship or League One. Bidders may want to test the EFL’s resolve on this point.
US brothers Adam and Colin Binnie, a consortium led by former Rams chairman Andy Appleby and ex-Newcastle United owner, Mike Ashley have all expressed interest in the Rams.
Any takeover is complex since the club has debts of around £60M and the Pride Park Stadium is still in the possession of former owner, Mel Morris. In addition, £28M is owed to HMRC, which is considered a preferential creditor and would be expected to receive more than 25 per cent of what it is owed.
