Derby County rescue is complete as David Clowes takeover deal is finalised

The Rams have been purchased by Derbyshire based property group, Clowes Developments Ltd - a company owned by owned by lifelong Derby fan David Clowes - for an undisclosed amount.

As a result, the EFL have confirmed that the club has met the requirements of the League's Regulations and Insolvency Policy and is therefore no longer in administration with the Notice of Withdrawal also being cancelled.

While remaining under a registration embargo, Derby will be permitted to sign new players in accordance with the terms of a business plan.

It brings an end to a lengthy period of uncertainty and ensures that the EFL club will be able to start the new season as planned without the threat of going bust.

Clowes has emerged as the potential new owner after American businessman Chris Kirchner withdrew his offer to buy the club.

Derby were were put into administration at the start of last season and were subsequently relegated from the Championship after being hit with a combined 21-point deduction and then seeing Wayne Rooney leave the club to be replaced by Liam Rosenior.

As life in League One awaits, a statement from the club's joint administrators told of their delight that the future of the club had now been secured.

EFL CEO Trevor Birch said: "These past nine months have been a worrying and challenging time for everybody connected with the Club, particularly the staff and supporters who have been forced to endure much uncertainty.

"This Administration has presented all relevant parties with many and varied challenges, but with the new ownership now in place, the Club and local community can hopefully now look to the future with a renewed sense of optimism.

"Throughout this process, it has been frustrating to read a great deal of misleading comments from some people which have either fundamentally misunderstood the remit of the EFL or have misrepresented what the League's role in the process has been.

"At all times the EFL's focus has been on securing the future of Derby County whilst ensuring the requirements of our Regulations and Insolvency Policy are met alongside acting in the best interests of all 72 members of the League.

"I would like to wish everybody at the Club, in particular the new ownership and their associates, all the very best for a long and sustainable future and we look forward to working closely together as we head into season 2022/23 and beyond."

Joint administrator, Andrew Hosking added: "The level of complexity involved in bringing this matter to a conclusion has been unparalleled and we are grateful to all stakeholders and their advisers, for their hard work which has enabled us to overcome a magnitude of challenges, and allow the rescue of this historic club.

"This deal represents a real milestone in the long and illustrious history of Derby County, and one which marks the end of the uncertainty experienced by supporters and the wider community whilst the club has been in administration and also importantly is one which complies with the EFL Insolvency Policy and provides the best return for creditors.

"Today signifies a new beginning for the club, and it enables the club to move forward into the new season with a clean slate, under local ownership under the stewardship of Clowes."