Clowes Development confirm purchase of Pride Park and loan to Derby County ahead of proposed takeover

Derbyshire based property group, Clowes Developments have announced that they have successfully purchased the Company that owned Pride Park Stadium from Mel Morris.

 Additionally, Clowes have issued an interim loan to the Club which will enable Derby County to start the next season and trade whilst a deal to purchase the Club is concluded. Clowes have also confirmed that they will, today, submit a bid to purchase Derby County Football Club.

David Clowes, Chairman of Clowes Developments (UK) Ltd lead the negotiations and commented, “With a deadline looming and the start of the next season getting closer, we needed to do something

As a local and established property Company, purchasing the stadium seemed the obvious first step. Secondly, as a proud Derby supporter, it was inconceivable to me that the Club was at risk of falling away. We’ve worked tirelessly behind the scenes on the stadium purchase and loan agreement to be able to get the Club going again in time for the next season. Players, staff and fans needed some good news, and we are delighted to play a part in delivering that.”

The company hope the announcement will allow the club to move forward with day to day running of the club and begin bringing in revenue through ticket sales and other typical club functions.

It's another twist in the drawn out saga for the club that a few weeks ago appeared to be entering into the hands of American businessman Chris Kirchner.

He was unable however to prove he had the funds to purchase the club and the takeover collapsed leaving many Derby fans worried yet again about the future of the club.

Now it appears that this announcement has secured the future of the club as it looks to rebuild in League One.