Derby County has officially entered into administration proceedings.
Sky Sports News reported that the club has confirmed it is appointing administrators to help settle the club’s debts.
You can see the full report below…
? BREAKING ?
Derby County have entered administration. pic.twitter.com/C5UyCPQQzZ
— Football Daily (@footballdaily) September 22, 2021
Pictures courtesy of Sky Sports News
The financial situation at Derby has looked very bleak for some time now, but today it has finally been confirmed that the club will enter administration.
This means that the club will face a 12 point penalty and there have been reports that a further nine-point deduction could be handed to The Rams, as part of an agreement between themselves and the EFL for breaching financial fair play rules.
The worst-case scenario would no doubt be the club dissolving, which has happened in recent history to another historic club, Bury FC.
Derby are reported to have debts worth as much as £50 million, with £30 million of that alone being owed to the taxman, according to the Daily Mail.