Wayne Rooney's Derby a staggering £83MILLION in debt with just £630,000 in the bank as they anxiously await saviour
CRISIS club Derby are a staggering £83MILLION in debt and have just £630,000 in the bank as they anxiously await a saviour.
The extent of the financial mess at County is revealed by the administrator’s official report and makes grim reading about the way former owner Mel Morris ran the rock-bottom Championship club.
A statement from Quantuma, reveals the Rams’ £83m debt does NOT include a further £153m due to the share premium account, a ‘soft loan’ from Morris who is set to write off that loss.
However, as US businessman Chris Kirchner tries to close a deal in a hurry it is obvious that the cash is running out fast at Pride Park.
Wayne Rooney’s squad have not been asked to take pay cuts yet, but unless there is a quick rescue plan that seems certain in the near future.
The administrators are currently in talks with HMRC who are waiting on £26m in tax with a further VAT bill of £554,774 to come.
American financiers MSD are due £20m but that will be repaid by Morris out of the sale of the stadium to a new buyer.
There are transfer fees of £8.3m pending to various clubs.
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While these must be settled down the line, they do not have to be paid before a takeover.
Morris and son Steven, under the name of Sevco 5112, are due £8.1m and are classed as unsecured creditors.
Agents are owed fortunes, with WMG due around £1m and many others with six-figure sums that they are waiting on.
And the EFL have still to be repaid a Covid loan of £584,000, while club staff are due deferred wages from that time of £242,666.
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