US businessman Chris Kirchner has withdrawn his bid to buy Championship club Derby County.
Kirchner, one of three prospective buyers, ended his interest on Friday, with the club’s administrators saying an announcement on an alternative preferred bidder is “imminent”.
The businessman said he had made the decision “with real sadness”.
Derby went into administration in September and are bottom of the Championship after a points deduction.
It is understood there is still strong interest from a consortium that includes former owner Andy Appleby and backers from the United States.
Administrators could be in a position to announce a preferred bidder by the end of next week.
Kirchner, whose interest was backed by Derby manager Wayne Rooney, posted on social media: “It is with real sadness that I can confirm I am withdrawing from the process to buy Derby County Football Club.
“First and foremost, I would like to apologise to the fans. As you know, I’ve been in talks with the administrators for about two months.
“Two weeks ago, I made a formal offer to buy the club. I believe I presented a very detailed, generous and ambitious long-term sustainable business plan. It included purchasing the stadium, future funding and maintaining the academy’s status. We improved that offer further today.
“I wanted to agree a deal that I thought was in the best interests of all parties but, unfortunately, the last 24 hours has proven that just isn’t possible. So it is with deep regret that I must now stand aside and let the administrators pursue their own course.”
Administrators had said on Tuesday they were hopeful of making an announcement on the up-for-sale club this week.
In a statement given after Kirchner pulled out, the administrators said: “We simply were not in a position to accept Mr Kirchner’s bid as it did not meet the level of other bids received.
“Whilst we will not be engaging in any social media communications, we have seen some of the tweets exchanged yesterday between Mr Kirchner and others, and would like to put on record that we disagree with much that has been said.
“Whilst yesterday was a difficult time, it provided a stimulus to one of the remaining bidders who increased his offer for the club. We expect to name preferred bidder status imminently. We repeat that we are moving as quickly as possible to achieve a sale of the club.”
Earlier this month the administrators said they expect to complete a sale “in or around February 2022”.
An agreement needs to be reached with HMRC, who are owed £29.3m, while Middlesbrough and Wycombe Wanderers also have outstanding claims against Derby.
Analysis – ‘Kirchner retains interest in acquiring a club’
Chris Kirchner believed the plan he submitted to administrators in writing on 8 December was fair and that it was constructed without the need for additional investment. He had a five-year plan for the club which, crucially, included retaining category one academy status.
Talks had continued over the following two weeks but Kirchner felt frustrated at the lack of progress.
He knew the administrators intended to release a statement about the inability to secure a preferred bidder this week but understood he would be contacted ahead of publication, which did not happen.
Kirchner feels he answered all issues around funding with the Football League and still retains an interest in acquiring a club. However, this will not involve Derby.
