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Bank move to take control of club

Bank move to take control of  club

Derby County's bank, the Co-Op, have filed a document, which in effect could see them take charge of the football club and sell it to whoever they wished to.

A document known as a ‘legal charge' has been filed against Sharmine ltd, the company set up by the current directors when they took charge of the Rams in 2003. The document allows the bank to seize the shares of Sharmine and transfer ownership of the club. The new owners though would still have the £42 million debt; but the club would not go into administration and lose no points, as per the football league rules



It has also been sugested that the Bank have also rejected the initial proposed investment by SISU

Neither the Co-Op nor anyone at Derby County has been available for comment.

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Writer:
Date:Thursday March 9 2006
Time: 1:04PM

Comments

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You cant be losing points can you.
FEn_100
30/04/2006 23:14:00
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