Derby County chief executive Sam Rush has insisted that the club's near £8m loss for the last financial year is "in line with expectations".
The loss of £7.9m for the year ending 30 June 2012 was slightly up on the previous year's deficit of £7.7m and leaves the Rams' debts at around £34m.
That figure includes a £15m mortgage on Pride Park.
But Rush said the Rams have a "strong ownership group, who continue to be the single biggest source of finance".
He told the
"The simple truth is that somebody has to cover our working capital needs, as well as make continued investments in our squad and wider infrastructure.
"The ownership group's strength offers the club that much-needed financial stability."