Derby County tells their players they CANNOT afford to pay outstanding wages from DECEMBER as delays in the potential takeover put the Championship club in a financial crisis
- Derby informed the first team that they cannot afford outstanding wages
- The champion side still owes their players and staff half of December’s salary
- However, due to delays in the possible takeover, the club has little cash
- If their takeover deal with Sheikh Khaled lasts much longer, they could go out of business
Derby County have informed their first team that they cannot afford to pay their outstanding wages from December.
The champion side was only given half of the money they owed at the end of the month, and was told they would receive the remainder, plus their January pay, at the end of this month.
However, due to various delays in the possible takeover of Sheikh Khaled’s Derventio Holdings, the Rams have cash flow issues and are unable to pay their players.
Derby has informed their first team that they cannot afford to pay outstanding wages
Playing staff and coaches still owe half of their wages from December, but are not paid
Cash problems have arisen amid delays in Sheikh Khaled’s potential acquisition of Derventio Holdings
It was hoped that Derby’s takeover would be complete on Tuesday-evening, but the deal has yet to be finalized.
Sky Sports have reported that a legally binding agreement exists between both parties regarding the sale of the club.
But without the sale being completed and the purchase costs and associated money paid to the club, the deal has yet to be closed and owner Mel Morris has paid his player’s wages bill from his other business transactions.
Owner Mel Morris has paid the player’s wages from his other business transactions
The CEO of the Rams, Stephen Pearce, met the entire team and interim boss Wayne Rooney on the training ground to apologize for the wage-related accidents and promised to keep them informed of the evolving situation.
As Derby strives to get more loans from MSD, it said the Telegraphthe threat from administration is rapidly increasing as a result of the financial blow from the coronavirus pandemic.
Rooney’s side recently suffered a major outbreak of the virus, forcing them to close their training ground and set up a youth squad against Chorley in the third round of the FA Cup, who lost 2-0.
The threat from administration is rapidly increasing after the financial blow of the pandemic