Derby announce £8m losses

Derby CEO Sam Rush insists the club are heading in the right
direction, despite announcing a marginally increased loss of almost
?8million for the last financial year.

The club’s latest accounts show that their debt now stands at
around ?34million, which includes the ?15million mortgage on Pride

The net loss for the year ending June 2012 was ?7.9million,
slightly up on the ?7.7million for the previous 12 months.

The club’s turnover was ?17.3million, down from ?18.1million the
year before, while operating costs were reduced from ?17.6million
to ?17.3million.

Despite the figures, Derby remain confident they are on the
right course and insist the ownership group will continue to
bankroll the club because they believe in the work being done by
manager Nigel Clough.

Chief executive Rush said: “Although the figures relate to a
time prior to my arrival at the club, they do offer evidence of one
of the key factors that attracted me to Derby County.

“We have a strong ownership group who continue to be the single
biggest source of finance. The simple truth is that somebody has to
cover our working capital needs, as well as make continued
investments in our squad and wider infrastructure.

“The ownership group’s strength offers the club that much-needed
financial stability. We aim to be both successful and sustainable.
Increasingly, clubs won’t be able to gamble their futures as they
have in the past, and this can only be good for the long-term
health of the game.

“I and the rest of the board aim for Derby County to be
successful and challenging for promotion, and we will do this the
right way, through hard work and continued improvement.

“This stability and ethos runs right through the club and this
year we have all seen further development on the field. Nigel
Clough has created a young and exciting team that people are
talking about in a very positive and complementary way.”