Derby County chairman Peter Gadsby has defended their work in this summer's transfer market.

Some fans would like to have seen more new faces but Gadsby stressed the club had worked tirelessly in the transfer market.

"While we have been determined in our pursuit of players, a number of factors have combined to thwart us," Gadsby told the Derby Telegraph. "Some have had valid reasons for choosing another option or, bluntly, did not want to come to Derby County at this stage in the club's development. Others wanted crazy money.

"Our prime objective has always been to compete and bring in the players Billy Davies has identified.

"While we have money to spend, we also have a responsibility to the club and its supporters not to compromise the future by gambling wildly on the wrong players.

"I personally recall landmark decisions in years gone by at this club where as many as four players, all coming to the end of their careers, were signed for big fees on huge wages in a failed attempt to maintain top-flight status.

"Those signings impacted on the stability of this club for many years and we have a duty to make sure those mistakes are not repeated.

"Frankly, we have not worked as hard as we have to get this club back on its feet only to see it dragged back down to its knees.

"The board of local directors, all lifelong Rams fans, make no apology for acting responsibly as we continue to take this club forward."

Derby have made 10 signings during the summer and Gadsby says more than £20m has been injected into the squad in the past 12 months.