Derby debt reduced

[Beefy]

Last Updated: Thursday, 14 September 2006, 07:08 GMT 08:08 UK
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New consortium reduces Rams debt
Former director Peter Gadsby was a key figure in the move to Pride Park
Peter Gadsby was a key figure in the move to Pride Park in 1997
The new owners of Derby County have said they have reduced the club's debt by more than £40m.

The consortium led by property developer Peter Gadsby said the club's deficit had been brought down from more than £50m to £8.5m.

The six directors have invested £21m into the club since the takeover.

Mr Gadsby, now chairman of the Championship side, said the achievement was also down to a restructuring of finances and assistance from the bank.

He said: "There has been a series of accounts methodology or restructuring, in which certain debts are put to one side and then transferred back but in realistic terms there has been a substantial write-off."

[DerbyDave]

Yes things are looking on the up at Derby right now both on the field and in the boardroom,the Gadsby group have certainly brought stability to the club,now its time to move onwards and upwards. Beefy I heard a rumour that Leeds are in the glue with there finanances again any truth to that.