News broke on Friday evening that Derby County were set to enter administration, with the club revealing in an official statement that they were ‘unable to service its day-to-day financial obligations’.
Now Telegraph reporter John Percy has shed some light on some of the specific debts that the Rams have racked up and they are pretty eye-opening.
A charge that has been on Derby’s wrap sheet with the EFL for months is their defaulting in payments to HMRC, and Percy has revealed that the club owe £26 million worth of tax.
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Transfer instalments are also an issue again, with £6 million still outstanding to several clubs and despite being sacked in November 2020, former County boss Phillip Cocu and his staff are still owed money to the tune of £5 million in compensation.
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The club have not officially entered administration yet but it is only a matter of time due to the application to appoint a party to oversee the running of the club, with manager Wayne Rooney admitting that he’s not spoken to owner Mel Morris since the news emerged.
These are incredibly worrying times for County – especially with the level of finances involved that are yet to be paid.
The club turned down multi-million pound bids for players like Lee Buchanan this summer and whilst it would have only paid back a small amount of what is now owed, it would have at least helped.
Now with the transfer window closed, there can’t be a fire-sale of their remaining star talents but administrators are going to have to find a way to bring down the running costs of the club.
It’s going to be a tough few months ahead for Rooney and his players but they’re showing resiliency on the pitch right now, however the points deduction is yet to set in and when it does that will negate the club’s strong start to the campaign and the mood could significantly worsen in camp.