FORMER Derby County chairman Peter Gadsby has hit out in

sensational style at the owners of the club following his

departure from the board last week.

The Rams announced on Friday that Gadsby was leaving his

post as a non-executive director.

New owner Andy Appleby, head of American sports marketing

firm General Sports and Entertainment, who bought the Rams in

January, paid tribute to Gadsby for his “long and proud

association” with the Rams.

But in a hard-hitting statement released this morning,

Gadsby revealed that the split was anything other than amicable

and said he was taking legal advice about the way his

directorship was “terminated”.

He also posed questions about GSE’s investment in Derby

County and called on the current board to reveal full details

of the financial package – or let him buy the club back.

The statement brought an immediate response from the

Rams.

A club statement said: “The ownership and management team of

Derby County are fully committed and focused to achieving

success and finally bringing the stability the club has lacked

for decades.

“Petty politics have held this great club back from

achieving its potential.

“It is time to focus not on the vanity and egos of individuals

but the good of the club as a whole.

“This ultimately is what the supporters want.”

And Don Amott, a member of the board during Gadsby’s time in

charge and who joined the former chairman as a non-executive

director after the American takeover, said he had full

confidence in the current owners and their financial

backing.

Gadsby’s statement said that he felt compelled to make

public his serious concerns and “to question whether any new

money has been invested since the takeover by General Sports

& Entertainment.”

He claimed that he had been thwarted in attempts to gain

confirmation of the £50m investment that was pledged by

GS&E.

“Following my appointment as a non-executive director at the

time of the club’s takeover by GS&E in January this year, I

repeatedly sought confirmation that public pledges of an

investment of £50m – £18m to purchase shares, £22m to clear

debts and £10m for new signings – were being honoured,” he

said.

“Right up to the moment I discovered that my position had

been terminated, no answers were forthcoming.

“Nor was there a single official board meeting at which these

crucial matters could be raised, an astounding state of affairs

for any company, let alone one facing up to serious challenges

in a difficult business climate.”

Gadsby’s statement outlined a number of specific

concerns.

He said: “On several occasions after the takeover, Adam

Pearson [Rams’ chairman of football]maintained publicly that

the club would go forward “free of debt” as the result of the

investment of “substantial new monies” and it was announced

that a takeover worth £50m included £10m for new signings.

“From the outset, I expressed my unhappiness that such were

being made without corroboration and was told that corrected

figures would be forthcoming later, when all possible sources

of new investment had been explored.”

Rams president and chief executive Tom Glick said, as a

policy, the club had chosen not to comment on the acquisition

price.

He added: “But that number is not far off a combination of

the price we paid to the former directors, the substantial debt

we inherited which we have reduced and have a timetable to

service going forward as well as investing in the playing

side.”

Gadsby claimed there was a delay and uncertainty as to the

manner in which GS&E would meet the remaining part of their

finance and contractual obligation to former directors, due to

be put in place by last Friday.

But Glick replied: “This is bizarre and inaccurate.

“Neither was there a delay nor uncertainty and all our

contractual obligations to former directors have been settled

completely.”

On the Rams’ trading in the transfer market, Gadsby said:

“There has not been a substantial investment in this area from

the board.”

Derby have made 11 signings for the new Championship

season.

But they have sold strikers Robert Earnshaw and Kenny Miller,

as well as midfielders David Jones and Craig Fagan.

“The manager’s transfer budget is substantial and we have

been one of the most active clubs in the transfer market this

summer,” said Glick.

“It is the manager’s fund to manage and I’m sure he will be

happy to talk more about this.”

Gadsby has also talked about management costs of the

American executives in the current administration, saying it is

his understanding the figure is around £1.5m per year.

“I am befuddled by this statement,” said Glick.

“If he is talking about Andy Appleby, Tim Hinchey and myself,

this is incredibly inaccurate. As a policy, we do not reveal

salaries of members of staff but the figure is significantly

below the one given by Peter.”

On the subject of the club’s investors, Gadsby said: “The

identity of the investors who backed the takeover has never

been made public so once again, as during the “Three Amigos”

regime, supporters do not know who owns the club.”

Glick said: “We have been consistent on this all along.

“Most of the investors did not want to have a public role

and they are relaxed about that. There is nothing sinister

about this.

“Going forward, it is likely to change and some of the

investors could lend their expertise to the club and will

become part of the board. We are not looking to hide

anybody.”

Continuing on the subject of the finances, Gadsby said:

“Supporters will have to wait for the publication of the club’s

annual accounts to discover what new money has been

forthcoming, above and beyond the cost of the purchase of

shares.

“I believe the fans of the club, whose support was humbling

last season and who continue to provide substantial revenues

for the club, deserve greater access to financial

information.”

In response, Glick said: “Peter Gadsby’s role as

non-executive director was an honorary position, not a

day-to-day management position.

“He has not been presented with a set of books and that is an

important point.

“He may be personally frustrated.

“Don Amott is a non-executive director and is very pleased

with how everything is going and his relationship with the

club.”

Gadsby said he repeatedly sought financial information and

dates of any board meeting from the finance director, Martin

Ridgway.

“He has recently left the company with no formal

announcement. I was never given any notification of his

departure nor any explanation of the circumstances,” said

Gadsby.

But Glick said: “This is not a secret and I’m sure Martin

would be happy to talk about it.

“He left to pursue a commercial opportunity and remains a

good friend.

“We have a new vice-president of finance in Mal Brannigan.

Again, there was nothing sinister about this.”

Gadsby says he accepts his share of responsibility for what

he describes as a “deeply worrying” situation .

“I, along with Adam Pearson and the other directors and

shareholders, took on trust the pledges of investment from the

American consortium,” he said.

“We believed that their takeover would provide the financial

muscle needed to enable the club to return to the Premiership

and establish themselves at this level.

 “I sincerely hope that, in making my doubts about an

unhappy situation public, I may help to exert pressure on the

owners to produce a full and precisely detailed account of the

terms of their takeover, of the amount of new monies invested,

the current financial position and the identity of the

investors, as well as future financial intentions.

“Such is my disappointment and sense of frustration about

the situation that I now contend that the current owners should

either make good their financial commitments to Derby County

and provide the supporters with proof that their initial

promises have been honoured or give me the opportunity to buy

the club back and return it to local ownership more atuned to

the needs and expectations of its outstandingly loyal

supporters.”

But the Rams club statement continued: “Supporters should be

in no doubt that the current financial position of Derby County

is secure and growing. Significant investment has been made and

significant investment will follow in the future.

“It is becoming tiresome to continually refute unfounded

allegations, which serve only to create a sense of instability

at a time when important work is taking place to improve Derby

County and create a stable and prosperous future.”

Amott also issued a statement last night.

“I am happy with my current role as a non-executive

director. Whatever questions I have are answered swiftly and

completely. I have found the current ownership to be extremely

open,” he said.

“As a lifelong supporter, who cares passionately for Derby

County and sport in general in this City, I would not put my

name and reputation to the ownership group unless I knew they

had the best interests of the club at heart and the expertise

and financial backing to take the club forward and fulfill the

potential we all know it has.”