From The Times
March 15, 2010

Derby sale dismissed by American owners

Peter Gadsby’s £37 million takeover bid criticised as having “nothing to do with football and everything to do with property”

Peter Lansley

Derby County’s American owners have hit back over the criticisms inherent in Peter Gadsby’s takeover bid and suggested that the former chairman’s motives “have nothing to do with football and everything to do with property”.

The multimillionaire developer went public at the end of last week with a £37 million bid to reclaim control of the club where he stood down three years ago, citing a lack of progress and unfulfilled promises. He also vowed to give Nigel Clough, the manager, a £5 million transfer kitty this summer. The bid was rejected by Tom Glick, the chief executive, as “a farce”.

Gadsby’s plans to return to Pride Park claim to be based upon a “football first” policy in which supporters will have a greater say in running their club with more transparent ownership. But the American owners to whom he sold up have questioned Gadsby’s motives.

The Ashbourne-born business tycoon oversaw the move to Pride Park in 1997 and he now wishes to complete a redevelopment of the surrounding community that would include homes, shops, a sports village and an improved road network. Planning permission for the Pride Plaza development is in place.

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A source close to General Sports Entertainment, which owns the club, said: “You have to question his true intentions in making this bid. His website is called ‘footballfirstderby’ but after you read his plans, you have to think that a better name for it would be ‘propertyfirstderby.’ ”

While Andy Appleby, the chairman, lives in Detroit, the men who run the club day to day — Glick and Tim Hinchey, the commercial vice-president — moved their families over to Derby soon after the £50 million takeover.

Clough has had to prune the bloated squad he inherited to a manageable size while maintaining the club’s status in the Coca-Cola Championship. The wage bill has been reduced to about £12 million, while home crowds average about 28,000.