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Consortium want fast conclusion

Consortium want fast conclusion

The Group of local businessmen looking to take over derby county are looking for a quick resolution to their dealings with the co-op. A short statement released by the 5 said, 'A lot of hard work has already gone into reaching this stage and there is excellent goodwill between the consortium and the bank.
'It is hoped that matters can be concluded as soon as possible and that the club will then be able to move forward with renewed confidence.'
None of the 5 would comment on the article released by Derby County saying that the group had refused to sign a confidentially agreement
'We recognise that it's a very unsettling time for the supporters,' the statement continued, 'but we have made it clear from the outset that we would not be obstructive and are willing to sit down with interested parties who are acting in the best interests of the club.
'A confidentiality agreement has been agreed by lawyers on both sides but has not yet been signed.
'What the club's lawyers have asked for and think reasonable is that all members of the consortium are party to the confidentiality agreement.'
The consortium are it seems only dealing with the Co-Op bank and not the club directly and say that the club has been pleased with their ideas to take the club forward.
London-based venture capitalists SISU are the other group involved in the takeover talks, and are thought to be the preferred option of the current board. They have apparently got one bid on the table to pay off the current 44 million debts.


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Date:Monday March 27 2006
Time: 10:48AM

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