Sports

Derby County unable to pay first team in full amid takeover doubts

Image - Acting boss Wayne Rooney and the players met with club chief executive Stephen Pearce to discuss the issue Wednesday.

The Derby County chief executive has told the first team squad that the club cannot pay its outstanding December wages, but is working to fix the problem.

Most of the Derby first-team squad were only paid 50 percent of the money owed to them on December 15 and told that the remainder would be paid in full, along with their current month’s salary, January 15.

But repeated delays in Derventio Holdings’ lengthy takeover of Sheikh Khaled have meant the club has a significant cash flow problem.

After a series of missed deadlines, the deal was expected to be finalized Tuesday night, but the club’s purchase remains incomplete.

Sky Sports News has been told that there is a legally binding agreement between the two parties for the sale of the club.

But, without the purchase fee and associated money being paid, the deal cannot be finalized, and current owner Mel Morris continues to fund the salary shortfall from his other businesses.

On Wednesday, the club’s chief executive, Stephen Pearce, called the players and acting boss Wayne Rooney together at training ground and apologized for ongoing problems, vowing to keep them informed of developments.

In December, both parties involved in the purchase said the deal was still in progress, but nothing has been said publicly since.

It leaves Derby in further confusion, following the coronavirus outbreak that forced them to close their training ground last week, and field a team of youth players in the FA Cup loss to Chorley.

Get more stories like this at Twitter

Leave a Comment