Derby County boss Billy Davies believes they need to spend a massive £40 million over the next two transfer windows if they're to become a Premiership competitive.

"If you want to be in the Premier League then you've got to pay the wages, the contracts, the transfer fees," he said. "If you want to play in the Premier League then you'd better believe there is going to be competition for players who are top quality. Look at [Nicolas] Anelka. Anelka is saving Bolton on his own, but you don't get him for £10,000 a week.

"This is the Premier League, it's the greatest league in the world. What we need to do is accept this as a Championship squad and build on that. That's why we need to invest more than anybody else."