After securing the takeover of the club, Gadsby and his consortium set about hiring a manager who could rebuild the Derby squad, which at the end of a disappointing season had only one recognised striker, in the form of
Paul Peschisolido. After a decision-making process which took some time, former
Preston North End manager,
Billy Davies was installed as the Ram's new manager. The consortium managed to clear a significant proportion of the club's debts, which had reportedly risen to an estimated £52 million, as well as restoring ownership of
Pride Park Stadium to the club. As a result, Davies was allowed a respectable transfer budget, and
Steve Howard was Derby's first £1 million signing since 2000. == Impact at Derby County ==