Derby's chief executive Tom Glick has branded a takeover bid from former chairman Peter Gadsby as "a farce" and insisted the club is not for sale.
Gadsby made a £37million offer for the club on Thursday night and claimed there is a lack of transparency surrounding the American owners of Derby.
Glick said: "I have questions about the true intentions about this - the whole thing is a farce. The club is not for sale and we are not interested in receiving any more bids."
He added: "We do not appreciate the behaviour of the other party and the style in which this has been handled.
"It has been a distraction but we will not let this disrupt us. We are continuing to work to our plan, to run this club in a sensible way, to win promotion to the Premier League and to secure our position there.
"I don't think the facts stack up in Peter Gadsby's favour. We have sorted out the financial mess we inherited from him and have put the club on a sound financial footing."
Glick said Derby's debts had been cut from £32million when the international investment group General Sports and Entertainment took the club over in 2007 to £15million, which is the remaining mortgage on Pride Park.
"There is no secret about the identity of the owners - everyone knows who they are," added Glick.
"It's frustrating to have this sort of distraction but we are not going to be deflected from our aims."
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