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Former Derby chairman Gadsby launches 37m Rams takeover

12 Mar 2010 08:27:22

Former Derby chairman Gadsby launches 37m Rams takeover

Former Derby County chairman Peter Gadsby is launching a £37million bid to regain power at Pride Park. The multi-millionaire property developer is attempting to wrestle control from the club's American owners after becoming increasingly frustrated at the manner in which the club is run. He said: 'The funds are in place. The commitment is strong. The timetable is  ready for new ownership to make an impact in time to upgrade the prospects for  next season. Takeover plan: Former Derby Chairman Peter Gadsby (right) 'It is all achievable and supporters know that my reputation is for delivering  on my pledges. Ultimately, it is the will and ambition of the fans that will  influence the outcome and the fact that I have been one of them all my life  gives me confidence in their judgement.' It is only four years ago since the boyhood Rams fan has rescued the club from  oblivion. The Rams were careering towards administration with debts in excess of £52m  with ownership of Pride Park Stadium under the control of a Panamanian bank. But under Gadsby's stewardship and the appointment of several well-heeled  supporters to the board, Derby began a resurgence that led with Billy Davies leading the club into the Barclays Premier League. Highs and lows: Derby have struggled in mud-table this season However, that adventure ended in bitterness and recrimination as Davies and the  board disagreed on a number of key issues, leading to Derby's relegation when they became officially the 'worst team in Premier Leaguehistory' after picking up just 11 points all season. The harmony among board members also dissipated leaving Adam Pearson, appointed  as the club's chief executive, to find new buyers. An American group took over, but Gadsby has become disillusioned at the way in  which the club has been run in his absence and has resurrected plans to develop  the 70-acre former brown-field site around Pride Park. Pressure: Manager Nigel Clough Gadsby had submitted plans for 'Pride Park Plaza' before he left the club but  these appear to have been augmented since then. However, he wants to return some of the club's ownership to the support and is  willing to hand over 10 per cent of the stock to the supporters' trust,  enabling the fans to have a say in the manner in which the club is run. He added: 'The bid has a value of £37m and will be funded by equity, which  means that it will not introduce new debt to the club. Vitally, the bid will  also support manager Nigel Clough by making an additional £5m available to him  for much-needed new signings during the  summer transfer window. 'Alongside this bid, I am also announcing a major redevelopment initiative for  70 acres of land adjoining Pride Park and renewing my commitment to the Pride  Plaza project, which offers a variety of new dining and refreshment options to  improve the match-day experience for supporters. 'These developments would provide superb new amenities for the city and its  residents, offer considerable benefits to Rams fans and generate significant  revenues for the club. 'The bid, which includes Pride Park Stadium and the Moor Farm training complex,  is a serious and substantial one reflecting the current value of the club and  has been submitted to General Sports Derby Partners LLC in America, the holding  company for Derby County Football Club.'  VIDEO SPECIAL: Glenn Hoddle, Graham Roberts, Rio Ferdinand, Vinnie Jones and Niall Quinn - the reluctant goalkeepersReading 4 Derby 1: Robbie Savage ends up in goal for 10-man County


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