Derbyshire businessman David Clowes taken control of Derby County.
Nine months after the Rams went into administration, and after previous bidders fell by the wayside, his construction company Clowes Construction has finally taken ownership of the club.
It means Derby is safe to start next season in League One and – supporters hope – start battling its way back up to Championship and Premiership football.
The Clowes chairman originally hoped to finalise a deal on Wednesday, but things were held up by the “multitude of documents” that needed to be dealt with.
The business had bought the Pride Park stadium – which had not been part of the administration – from former Derby owner Mel Morris earlier in June, and had provided a loan to tide the club over.
Mr Clowes, a big Rams fan who has lead the negotiations, said they had been working tirelessly behind the scenes to get a deal done.
He said: “As a long-standing loyal supporter, I am personally delighted that we are in a position to be able to secure the future of the football club.
“This is a very proud and humbling moment for Clowes Developments.”
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In recent months fans had criticised the length of time it had taken to sell the club, amid growing fears Derby might even go under for good.
Complications had included claims for compensation by Middlesbrough and Wycombe – since dealt with – which it was feared might drive Derby into liquidation.
In a statement Andrew Hosking, Carl Jackson and Andrew Andronikou from administrators Quantuma said they were delighted to confirm the completion of the sale of the business and its assets “for an undisclosed amount”.
Joint administrator Carl Jackson said: “We are very pleased to have achieved today’s sale, in a deal which secures the long-term future of the club, and one which represents the very best outcome for creditors.
“I would like to express my sincere thanks to The Club’s staff players and the fans for their loyalty, and patience, as they supported the Club through the administration.”
Fellow joint administrator Andrew Hosking said: “The level of complexity involved in bringing this matter to a conclusion has been unparalleled and we are grateful to all stakeholders and their advisers, for their hard work which has enabled us to overcome a magnitude of challenges, and allow the rescue of this historic club.
“This deal represents a real milestone in the long and illustrious history of Derby County, and one which marks the end of the uncertainty experienced by supporters and the wider community whilst the club has been in administration and also importantly is one which complies with the EFL insolvency policy and provides the best return for creditors.
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“Today signifies a new beginning for the club, and it enables the club to move forward into the new season with a clean slate, under local ownership under the stewardship of Clowes.”
At the height of the Rams crisis, Team Derby, a group made up of Marketing Derby, Derby City Council and local MPs, was formed to highlight Derby County’s plight at local and national level, while help get news owners in.
Derby City Council leader Coun Chris Poulter said: “This news is monumental. A buyer from Derby, doing it for Derby – we can’t ask for more than that.
“It’s now time for us to come together and work towards the long-term stability of the club.
“Derby County is at the beating heart of our city and its communities. It plays a huge part in the social, economic and cultural fabric of the city.
“Alongside fans, Team Derby has worked tirelessly to ensure the survival of the club and has shared the ups and downs of the journey.
“After what has been a turbulent few months, supporters – ourselves included – are extremely hopeful.
“A new owner will bring clear leadership, and a vision for the club’s future, and as a proud Derby fan himself, David is a fantastic choice to bring that to fruition.”
John Forkin, managing director of Marketing Derby, said: “The past few months have reinforced the importance of Derby County to the communities and economies of Derby and Derbyshire.
“Marketing Derby welcomes the purchase, which draws a line on administration and allows Derby County to start its next chapter.”
The joint administrators were advised by the law firm Pinsent Masons with the team led by partner Steve Cottee.
The buyers were advised by a team led by Simon Taylor at Gateley Legal.
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