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

Park.

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.”