BoringOldFan
It's better to burn out than to fade away...
- Sep 20, 2005
- 9,955
- 2,498
Yes, The Athletic highlighted gaps in his funding last October.
As joint administrators, Paul Hoskings, Carl Jackson, and Andrew Andronikou outlined prospective buyers were required to demonstrate that they had £100 million in liquid assets to make a bid for the club. Growjo credits Slync.io with a $14.2 million turnover per year, clearly significantly lower than the required £100 million.
The Athletic understands that he does not have the individual wealth to purchase Derby County. His public statement of intent was likely a call to attract other investors to form a syndicate, who could combine to buy the club.
This is a fairly common tactic used by American investors in European football clubs, similar to the set-up at Liverpool with Fenway Sports Group or at Ipswich Town, where US-based businessman Brett Johnson heads a group of investors. Still, the source of his apparent wealth remains something he is not forthcoming with addressing, commenting on Twitter, “I’ve done well enough to acquire and fund a club. The administrators are very diligent and required a minimum of £100 million in proof of liquidity to even get to the point I am at in the process”, appearing to suggest he is the lone investor.
