RamsTrust Meeting With Administrators

This morning, representatives of the RamsTrust met with the Administrators appointed by the Directors of Derby County Football Club Limited, Carl Jackson and Andrew Hosking of Quantuma, Stephen Pearce, legal representative from Pinsent Masons and, for part of the meeting, with Manager Wayne Rooney.

It was a very positive meeting. The Administrators were clear that the Club very much has a viable future and no obstacles are insurmountable! They are already in positive discussions with commercial funders to enable the club to continue to meet its obligations until a new owner is in place.

They are still assessing the full financial situation of the Club (assets and debts), and are preparing materials to market the Club to encourage potential bidders.

There is considerable interest from previous and new interested parties. Now that the Club is in administration, the debts owed by the Club will be able to be discounted as a result of the administration process, which will place the Club in a better place as far as any potential purchasers are concerned. The Administrators are therefore confident of rescuing the club and undertaking a successful restructuring that will place the Club in a good place going forward. The Administrators’ objective is to reach a successful conclusion in the near future, targeting the end of the year (before the January transfer window) as a realistic aim. This would then enable the Club to strengthen in January rather than having to sell players.

They have every confidence in Wayne Rooney and will be supporting him going forward. In return Wayne confirmed that he and the players are in this for the ‘long haul` and he is very much focused on the job in hand. As far as player sales are concerned, this is academic anyway, as the transfer window is closed until January, by which time, new ownership should be in place.

The Administrators confirmed that Mel Morris is totally supportive of the process and will co-operate in a timely sale of the Club and the assets connected to it. The intention is to sell the Club, the ground and the training ground as a combined package. Supporters should consider that Mel is still a substantial creditor of the Club, and remains very supportive of the process to help the Club going forward – so some criticism that has been levelled is unwarranted.

The Administrators confirmed that they wish to hold regular meetings with the Trust on behalf of supporters and are very keen that communications will be very much open with both the Trust, Wayne Rooney, the playing staff and all of the staff associated with the Club.

The Administrators also urged the Trust to encourage as much support as possible at home matches, as all revenue collected on match days  goes directly into the Club coffers to ensure the Club can continue with minimal impact before a takeover can be concluded.