Nottingham Forest's East Midlands rivals Derby County have announced that they about to appoint an administrator.
The Rams have had a number of off-the-field problems in recent months and remain in talks with the EFL over a possible points deduction following an alleged breach of financial fair play rules.
Derby owner Mel Morris has been searching for a buyer for the club In recent times with two possible takeovers falling through in recent months.
The Rams have also been under a transfer embargo over the summer after failing to pay players wages in previous months, meaning they were only able to sign free transfers with the approval of the EFL over the summer transfer window.
A statement issued by the club tonight said: "This action was made necessary by a number of developments.
"Last week, it became clear that the process which has been underway to identify a purchaser for the Club likely would not be productive over the near term, despite the number of negotiations with credible parties.
"Because the COVID-19 pandemic has had a severe impact on the revenues and profits of all of its businesses, the cub has been unable to service its day-to-day financial obligations.
"The directors had no choice but to make the tough decision to take this action and protect the club."
Forest took on Derby in one of the season's opening games, with both teams playing out a 1-1 draw on August 28.
Reports emerging this evening suggest that Derby had been losing between £1.3m and £1.5m a month.
