Derby chief Pearson: Paying over the odds ruined us

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Sir Alan Sugar profited from Tottenham, David Dein did likewise at Arsenal, Doug Ellis left Aston Villa with £17m in his back pocket and Ken Bates sold Chelsea for a small fortune, having bought them for £1.

Derby County chairman Adam Pearson has not only made his money but lived to fight another day.

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When he sold his stake in Hull City last summer in a deal said to be worth around £10m he could have been forgiven for turning his back on the game — this is a man who quit Leeds United as commercial director before the iceberg was spotted on the horizon.

While Derby remain on course to become relegated by March, Pearson refuses to be downcast.

Talks with a hedge fund run by billionaire Roy Disney, nephew of Walt, have been under way for months with the prospect of massive investment.

"We are within a couple of weeks of knowing whether or not it's going to happen," said Pearson. "It's a lot easier to attract investment when you are not 10 points adrift. But Derby is an unbelievable opportunity for someone with sufficient wealth.

"Barclays Premier League football is now out of the reach of local business people. They cannot compete financially with the huge tycoons, conglomerates and consortiums.

"If you do want to compete, you need to attract one of those to your clubs and then align it to local businessmen or board members who can retain the heritage and the culture and understanding of the quirks of the club."

But why would an American businessman want to buy into Derby?

"I'm sure sporting glory forms part of those reasons. I think it gives these people international profile. If American owners, for example, are involved in franchised baseball, basketball or American football teams, they are only going to get noticed in America, not internationally. If you want to be seen as a global player, you need Premier League football.

"Most of the big, big clubs are done, therefore they are on to the second tier. I'd like to think Derby County, with its heritage, fan base, facilities and potential is one of those second-tier clubs."

A defining characteristic of successful football owners is the ability to call it as they see it — something which Pearson does.

"Two months ago, when I came in, we had six points. Now, we have seven. Fundamentally, the squad isn't good enough and it hasn't been from day one.

"But Derby have spent £20million in the past 18 months. The wage bill has risen by £13m on last year's — without seeing a significant improvement in the playing squad. And that, unfortunately, is why we are where we are.

"The grand plan now is to build a team that can compete in the top half of the Premier League. If we have to go down to come back up, we have to be tough enough to handle the flak on the way down and get us back up. I know both Paul Jewell and myself have those qualities.

"I want to compete now. Paul wants to compete now. We are going to spend more than we bring in. That's an investment. Is it enough to keep us up? It's looking unlikely."

Pearson is open about former manager Billy Davies' failings.

"Have we paid over the odds for some of these players? Yes, it's an unpalatable fact of life. Derby have overpaid in the summer. The manager then chose to buy British and that puts on a premium and the club bought late. That also put on a premium.

"Hopefully, we can start building a team from this window onwards. There will be a mixture of short and long-term contracts."

Pearson, 43, denies he is in it for the money alone.

"I would really like to have a relationship with a manager that enables him to create an environment to rebuild the club. It's not purely financial for me. If it was purely financial, I would sell up when this investment comes in. I'm not. I'm going to retain my shareholding and stay here.

"I'm after something more than a financial return. I want to be part of the rebuilding of this club. It's a sporting challenge, not an ego thing."