Latest: Portsmouth, Sheffield Wednesday, Charlton Athletic and Ipswich Town’s League One rivals Derby County suffer further setback as takeover update emerges

It is believed the takeover of the club by the American businessmen is in danger of collapsing, with proof of funds failing to be released.

After the EFL ‘conditionally approved’ his bid on May 17, the 34-year-old then agreed a deal to take the reins of the Rams on May 31 - but delayed the process until June 2.

There is now concern that the deal will not proceed at all, after a financial deadline was not met on Friday and again on Monday.

Instead, the 34-year-old revealed on Twitter that Bank Holidays in both the US and UK had complicated the takeover.

With the club £60m in debt, Kirchner initially promised to pay the Rams’ wages for last month by May 31, and although payment came in, the money wasn’t paid by him.

One of the main complications surrounding the deal is Pride Park, with the stadium still owned by former owner Mel Morris.

In a meeting, Morris, Derby City Council and Kirchner failed to resolve the issue of purchasing the ground, adding to the list of issues surrounding the deal.

Should the takeover fail to go through, it will be the second time the American has failed to purchase the newly-relegated side after his initial bid in December was withdrawn.

But after his failed bid to take the reins at Preston fell through in April the entrepreneur reinstated his interest in Derby, but now his new bid is set to collapse in the coming hours.

It leaves the Rams with two parties keen on a swoop with ex-Newcastle owner Mike Ashley known to have a long-running interest.

Following the club’s administration, County have been placed undergo a restriction which has left Wayne Rooney unable to make any purchases.

This leaves the ex-Manchester United ace with just five first-team players under contract going into League One next season.

Derby, the EFL and the Rams’ administrators, Quantama, are yet to comment on the proposed collapse and what it could mean for League One next season.