|
£50m was the headline figure quoted as the sum available to launch Derby County as 'a global brand', but some unanswered questions remain about the deal. It is unclear who actually owns the club. The chairman when the deal was done, Adam Pearson, says that the president of General Sports and Entertainment (GSE), Andy Appleby, now owns 93 per cent of the club 'on behalf of GSE'. However, Appleby clarified that 'GSE will be managing the investment of the USA consortium they have brought together.' Who the members of that consortium are remains unclear, but if the Premiership enforces its own rules, their identity will have to be made clear. It is also uncertain how much of the £50m headline figure for the takeover will be invested in the Rams.
GSE is thought to have paid around £20m to buy the club from the outgoing shareholders. However, it is not clear whether the company has paid off the debts the club was already carrying, thought to be over £20m. Takeover figures now commonly include debts, even if they have been taken on rather than paid off, which gives the deal an 'enterprise value', in this case of over £40m. That appears to leave around £10m to spend on players to return to the Premiership following relegation. GSE's executives are not Forbes List billionaires like the Glazers at United or Hicks and Gillett at Liverpool. GSE is a Michigan based consultancy which had a turnover of around £3.6m last year. It will be interesting to find out who is actually behind them.
|
