Derby County now 'debt free'

Financial results released this morning show that Derby County are no longer in debt to their owners as £22.5m of loans have been turned into equity.

Derby County have announced losses of £7.1m for the year ending June 2013 but are no longer in debt to their owners, financial results released this morning show.

The club's owners have converted £22.5m of loans into equity but do still owe £15m in loans on the club's iPro Stadium.

"The owners have further reaffirmed their commitment to the future of Derby County," chief executive Sam Rush told BBC Radio Derby.

"The owners continue to support the club and I think this leaves us in a very positive position."

The losses are a slight increase of £800,000 on the previous financial year.

Derby could be playing their football in the Premier League next season as they are firmly in the playoff places with seven games of the season left.

Derby's Johnny Russell celebrates after scoring his team's fourth goal against Nottingham Forest during the Championship match on March 22, 2014
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