Derby will also owe Tranmere 15% of any fee they receive for Davies

Derby County have been ordered by a tribunal to pay Tranmere Rovers up to �725,000 for 20-year-old winger Steve Davies, signed by the Rams in June.

The Professional Game Compensation Committee ruled Derby must make an initial payment of �275,000 with a further �250,000 based on appearances.

Another �200,000 follows if they reach the Premier League within three years.

Rams chairman of football Adam Pearson told the club website: "We thank the panel and fully accept their verdict."

Davies was out of contract at Tranmere when Derby signed him but, because he is under the age of 24, Tranmere were entitled to compensation which was set by tribunal because the two clubs could not agree a fee.