Derby administrators granted one-month extension to provide proof of funding

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A deadline for Derby’s administrators to provide proof of funding has been extended by one month (Barrington Coombs/PA) (PA Wire)
A deadline for Derby’s administrators to provide proof of funding has been extended by one month (Barrington Coombs/PA) (PA Wire)

Derby County’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 administrators, Quantuma, and the EFL said the decision had been reached “following a formal review of revised financial forecasts” at the Sky Bet Championship club.

The previous deadline to show that Derby had the necessary funds to complete the season had been 1 February.

The EFL said in a statement last week that administrators had told them the club would “run out of cash” next month but the revised forecast has clearly been deemed optimistic enough to grant the extension.

The statement said: “Today’s development will allow the club to meet its ongoing obligations while 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.”

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