Local businessman Mel Morris has today completed his full take over of Derby County Football Club. The Rams are back under local ownership after multi-millionaire Morris successfully negotiated the purchase from the previous ownership group, North American Partners, LLP.
Morris has become increasingly involved with the club after re-investing in May 2014, the day after the Rams lost in the play-off final to Queens Park Rangers. He took a 22% stake in the club before becoming chairman a year later. Since becoming chairman, Derby have spent £17.5 million in the summer transfer window, breaking the club’s record transfer fee twice in the process.
This is not Morris’ first stint in the Derby County boardroom. He was a part of a local consortium that saved the team from financial meltdown in 2006. Debts stood at £50 million after a number of years of living beyond their means following the Rams’ relegation from the Premier League in 2002.
Morris oversaw a rapid change in fortunes as Derby achieved promotion back to England’s top flight in his first season on the board of directors. In January 2008, Morris’ consortium sold the club to US based company, General Sports and Entertainment. This came during Derby’s disastorous Premier League campaign, where they finished with a record low points total of 11.
His personal fortune is thought to be an estimated £400 million and he is in the top 300 richest people in England. In his most well-known investment, Morris purchased a stake in the games company, King, back in 2003. Many will be familiar with them through their world-renowned app, Candy Crush Saga. As the company was put onto the American stock exchange, his share was said to be worth over £500 million. This has made Morris the city of Derby’s most successful businessman.
Derby County fans will be hoping that Morris’ personal successes will rub off on the football pitch and help guide the Rams back to the Premier League.
