Derby County yesterday became the latest soccer side to announce their intention to join the stock market after raising £10 million through selling a stake to investment management firm Electra Fleming.

The Rams plan to float in the next three years and the private equity injection will give the club funds to move towards that goal.

Electra Fleming will take a 25 per cent holding in the club under the terms of the deal, the controlling interest still lying with chairman Mr Lionel Pickering.

The deal is the second big investment in a soccer side by a financial institution this year, following Charterhouse Development Capital's £16 million buy of a 36 per cent stake in Sheffield Wednesday.