Derby's Chairman, John Sleightholme, resigned in April 2006, saying his position had become untenable. The rest of the board followed him later that month. A popular consortium of local businessmen led by former vice-chairman Peter Gadsby bought the club, reducing its debt and returning Pride Park Stadium to the club's ownership in the process. In June 2006, former Preston North End boss Billy Davies was appointed Derby County's new permanent manager, with Julian Darby as his first-team coach. In his first season, Davies took Derby to the Championship play-offs, where they beat Southampton on penalties in the semi-finals before defeating West Bromwich Albion 1–0 with a second-half Stephen Pearson goal at the new Wembley Stadium to secure a return to the Premier League and the associated £60m windfall.
Despite Derby's promotion however, there were persistent rumours of a row between Davies and the Managing Director Mike Horton over the appointment of an assistant for Davies. On 5 June 2007 Horton resigned from his position on the board, and he was followed shortly afterwards by Jill Marples and her husband Peter Marples. Horton claimed at the time that his departure was for family and business reasons however, whilst the Marples' departure was put down to the death of a family friend in a helicopter accident. With the departure of Horton and the two Marples', the remaining directors appointed 4 new members to the Board. Experienced football executive Trevor Birch came in as Chief Executive, Martin Ridgeway as Financial Director & Company Secretary, John Vicars as Operations Director and Steve Coakley as Commercial Director.
On June 11 2007, the club also announced plans to expand the capacity of Pride Park Stadium from 33,957 to 44,000 for the start of the 2008–09 season[3]. This goes with the plans already in place for "Pride Plaza", a plan to develop the stadium and add a hotel and restaurants.
Derby began their summer signings by buying Robert Earnshaw from Norwich for £3.5 million, breaking the club's transfer fee record.[4] Derby then signed Tyrone Mears for £1 million from West Ham United, following his successful loan spell at Pride Park during the second half of the 2006–07 season. This was followed up on 6 July 2007 with the signing of Sheffield United defender Claude Davis on a £3 million deal, with terms agreed on a four year contract. A few days later it was announced that Andy Todd, son of legendary Rams defender Colin Todd, would be signing for Derby for an undisclosed fee thought to be around £700,000. Finally, Derby signed Ipswich Town keeper Lewis Price on July 27 2007 for a fee thought to be around £200,000. In August 2007, Derby completed the signing of two American international midfielders, Benny Feilhaber from Hamburg and Eddie Lewis from Leeds United.
Despite the squad strengthening, Derby made a disappointing start to the Premier League 2007-08 season and following their 6–0 defeat to Liverpool on 1 September 2007, Irish bookmakers Paddy Power took the controversial decision[neutrality disputed] to pay out on the club to be relegated after just five games of the new season.[5] The poor start saw fans accuse Gadsby and the board of failing to invest properly in players for the club. The repercussions of this saw Trevor Birch leave his position as Chief Executive at the beginning of October and, on October 29th 2007, Gadsby stepped down as Chairman to be replaced by former Hull City owner Adam Pearson. November didn't start too well either with another poor performance away to Aston Villa , and meant that Derby County were still awaiting a goal away from home, but this was finally broken when they got there first away goal of the season at Old Trafford away to Manchester United. Since then, Derby County now have 3 goals away from Home.
In the coaching department, Derby appointed Colin Miller as Assistant First Team Coach and Craig Brown as Footballing Consultant as part of a change to the backroom staff at the club, while Billy Davies also signed a 12 month contract extension until 2010. Finally, on 6 July 2007 it was announced that David Kelly, Davies former assistant at Preston, would be joining the club as the new Assistant Manager,[6] an appointment which Davies had been pursuing for several months.
Under Davies' leadership, Derby have added themselves to the growing list of clubs in England looking towards North America for talent. The current roster features three Jamaicans and two Americans while assistant coach Colin Miller is Canadian. He has also signed many fellow Scots to his side including Kenny Miller.
Davies left by mutual consent after a meeting with Adam Pearson on November 26th 2007 and was replaced by former Wigan Athletic F.C. manager Paul Jewell two days later.
During the January 2008 transfer window, five new players were signed — Argentine striker Emanuel Villa, ex-England international defender Danny Mills from Manchester City, Blackburn midfielder Robbie Savage, the enthusiastic French winger, Laurent Robert and Tottenham's Egyptian midfielder Hossam Ghaly on loan. Derby hope to make two more signings: Genclerbirligi's Mile Sterjovski and Rangers goalkeeper Roy Carroll, the former of whom is unlikely to be granted a work permit.
On January 28, 2008, it was announced that Derby had been purchased by American group General Sports and Entertainment, with Tom Glick taking the role of new President and Chief Executive.

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