Derby County reveal £8m loss but owners still aiming high
DERBY County's owners remain confident that they are heading in the right direction despite revealing a loss of almost £8m in the last financial year.
The Rams have filed their annual accounts and the club's debt now stands at around £34m, which includes the £15m mortgage on Pride Park Stadium.
But Derby say the ownership group will continue to bankroll the club.
And the work of manager Nigel Clough in creating a "young and exciting" team has been praised.
The net loss for the year ending June 2012 was £7.9m, slightly up on the £7.7m in the previous 12 months.
The club's turnover was £17.3m, down from £18.1m the year before.
Operating costs, meanwhile, were reduced from £17.6m to £17.3m.
Derby say the results posted are very much in line with their expectations.
"Although they 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," said chief executive Sam Rush.
"We have a strong ownership group who continue to be the single biggest source of finance for Derby County.
"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."