Peter Gadsby was a key figure in the move to Pride Park in 1997

The consortium led by property developer Peter Gadsby said the club's deficit had been brought down from more than �50m to �8.5m.

The six directors have invested �21m into the club since the takeover.

Mr Gadsby, now chairman of the Championship side, said the achievement was also down to a restructuring of finances and assistance from the bank.

He said: "There has been a series of accounts methodology or restructuring, in which certain debts are put to one side and then transferred back but in realistic terms there has been a substantial write-off."