Finance expert delivers one-word David Clowes verdict after major Derby County update

Derby County owner David Clowes

Finance expert Kieran Maguire has described Derby County owner David Clowes as a “saint”, after the club’s latest accounts were published.

The Rams’ parent company, Clowes Developments (UK) Limited, have published their latest figures. They show David Clowes bought Derby for £13.2m and also paid Mel Morris £1 for Pride Park.

The accounts also show Derby lost £6.8m on turnover of £16.5m in the first nine months after exiting administration, following Clowes’ takeover in July 2022. Published on Companies House, Clowes Developments (UK) Limited’s latest accounts also show the Rams’ squad was valued at £3.3m when the takeover was completed and a further £1m was spent in the first nine months.

Creditors amounting to £19.3m have also been paid since Clowes completed his buyout.

“During the year, the group continued to invest in new opportunities and acquired 100% of the share capital of Derby County Limited whose principal activities are that of a professional football club,” said Clowes in a statement in the published accounts. “Whilst the turnover of the football club is a small proportion of group revenues, the cost of running the operation has a material impact on the operating profit of the group and for this reason, the financial results are clearly segmented in the strategic report.

“The group also acquired 100% of the share capital of Gellaw Newco 202 Limited, a football stadium company.”

Posting the headline figures on X, formerly Twitter, Maguire said it’s “too early” to assess the club’s financial health. “It’s too early to tell overall, but David Clowes is a saint,” he said.

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