Derby owner Mel Morris is finally ready to accept defeat in an attempt to sell club to Erik Alonso

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Derby owner Mel Morris finally ready to accept defeat in an attempt to sell club to Erik Alonso with ‘dead in the water’ deal after Spanish businessman failed to respond to EFL’s demand to deposit £ 35 million into the account

  • Mel Morris is willing to accept defeat in his bid to sell Derby County to Erik Alonso
  • Morris insisted that Alonso would produce money to complete a takeover
  • Alonso tried to take out a loan at the stadium last week, but he denied it
  • American lenders became skeptical when he couldn’t satisfy them with his own wealth
  • Now EFL sources are claiming that any deal to buy Derby is ‘dead in the water’

Derby County owner Mel Morris is finally ready to accept defeat in his bid to sell the club to Erik Alonso, with EFL sources admitting the deal is ‘dead in the water’.

Morris has persisted for more than a month hoping the Spaniard would raise the money to complete a takeover, despite repeated warnings that he was wasting his time.

Sportsmail announced last week that the deal was on the verge of collapse. Alarm bells rang in Pride Park after Alonso attempted to take out a loan against the stadium and other club assets, which he denied.

Derby owner Mel Morris (pictured) has to accept defeat in his bid to sell the club to Erik Alonso

But American lenders became skeptical when the 29-year-old couldn’t satisfy them regarding his own wealth. Likewise, the EFL is still waiting for proof of money.

An EFL source said, “The deal is dead in the water and Mel Morris realizes it.”

We understand that the EFL found no reason to refuse Alonso as part of their owners and directors’ test if he had produced the money to close the deal. They asked him to put £ 35 million into a credit account three weeks ago, but they haven’t heard from him since.

There were also concerns within the EFL about Alonso’s business plan and doubts about the credibility of the acquisition, especially as the League could not determine if he even had a lawyer.

Alonso tried to take out a loan against the stadium and other club assets, which he denied

Alonso tried to take out a loan against the stadium and other club assets, which he denied

Now EFL sources are claiming that any deal to buy the Pride Park outfit is 'dead in the water'

Now EFL sources are claiming that any deal to buy the Pride Park outfit is ‘dead in the water’

We reported that some football figures involved in the trial believe they have been misled. We are told that Alonso still owes money for the services of some of those people.

And now it appears that Morris is ready to move on after a difficult week in which his club was found to be in violation of EFL’s financial fair play rules regarding accounting practices.

Derby will likely be hit with a points deduction next season, although the EFL is insisting that the sanction be imposed as soon as possible, a move that could relegate Wayne Rooney’s side to League One.

Morris remains desperate to sell the club and a US consortium in talks has been reported in recent days.

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