Former Rangers shareholders Sandy and James Easdale cite reasons for pulling plug on bid for Derby County

Former Rangers directors James and Sandy Easdale have withdrawn their bid to take over at Derby County.

The Rams are currently in administration and subject of a 12-point deduction which has left them bottom of the skybet Championship, despite Wayne Rooney’s team accruing three wins and nine draws so far.

Last season they narrowly avoided relegation to the third tier of English football and the appeal over this season’s punishment was adjourned earlier in the week while talks over new ownership at Pride Park continued.

However, with a bid from an American businessman, Steve Kirchner already on the table, discussions over the club’s future will now progress without the Scottish brothers who said they were unable to complete their work in the timeframe given to take forward their purchase attempt.

Their statement read: “We have withdrawn our note of interest in Derby County FC with immediate effect.

"We feel the timelines set out were unworkable for us to fairly value the club with so many issues to cover.

"Our lawyers have informed the administrators of our decision.

"We wish Derby County all the best in their search for a new owner and hopefully the fans get good news soon.”

Sandy Easdale also thanked Derek Llambias and his company Llambias Associates for assisting their early takeover plans with a team formed for consultancy work on the proposal.

They had previously worked together when Llambias, a former managing director at Newcastle United, had been appointed Rangers’ chief executive in 2014 while the businessmen were shareholders at Ibrox.

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