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Derby County reject takeover bid

12 March 10 08:41 GMT

Officials at Derby County Football Club have refused a £37m offer from a former chairman to buy the club.

Businessman Peter Gadsby made the bid to take back ownership after becoming disillusioned with the direction the Pride Park club was taking.

His bid included a promise of £5m that could be spent by manager Nigel Clough this summer, and a proposal to build a sports village next to Pride Park.

Club officials said they had "absolutely no intention of selling".

In a statement Mr Gadsby said: "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."

The club's president and chief executive Tom Glick said an offer had been received, but there was no prospect of a sale being agreed.

He said: "The club is not for sale, we have received an offer, but there's no interest in selling.

"We are focused on running the business of a football club."

Mr Glick said he did not consider the offer would distract the players.

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