Derby County have exited administration following David Clowes' takeover of the League One club, nine months after entering in the first place. 

Fans and employees of the Midlands club have been through an emotional rollercoaster over the last year or so, with Clowes' takeover representing a big moment of relief. 

A Derby fan, Clowes has agreed an undisclosed fee with the club's administrators Quantuma, with the club now entering the same ownership structure as its stadium, Pride Park. 

Sharing his thoughts on the completed takeover and the excitement around it, Carlton Palmer told Football League World: "It's fantastic news. They've gone from being in debt, considerable debt, to being debt-free. So it's massive.

"He's a lifelong Derby County fan and he's got plenty of money. I think his net worth is about 250 million, so he's got plenty of money.

"That's good news for Derby County."

The verdict 

Derby might be playing their football in the lower division next season, and might have to lose a few more integral first-team players, however, fans will be excited about the next chapter after exiting administration. 

Now debt-free, and under the stewardship of a wealthy owner who is a fan of the club, the future looks bright for all those at Derby and its fanbase. 

Now, attention can start to be placed back on the pitch, with Liam Rosenior now tasked with assembling a squad who could challenge for League One promotion. 

Of course, they have been at a disadvantage during the early stages of this window because of the takeover saga, so they will now be eager to make up for lost time.