Derby were relegated in 2008 from the Premier League and spent 13 seasons in second tier.
Derby County has been placed into administration and the English Football League has deducted 12 points.
On Friday, the Championship club declared their intention to call in administrators. Owner Mel Morris stated that the coronavirus pandemic had caused them around 20 million in lost revenue.
Morris spent the last two days speaking with players and staff, whose jobs now seem uncertain.
Wayne Rooney's Rams fall to the bottom of the table by minus two points.
Andrew Hosking and Carl Jackson, managing directors of business advisory firm Quantuma have been named joint administrators.
Hosking stated that they are still evaluating the options and invite all interested parties to join them.
"Our immediate goals are to complete all fixtures in the Championship this year and to find interested parties to protect the club and its employees."
Club lost Morris "in excess of 200m"
Morris was Derby's sole owner in 2015. However, he has been actively looking to sell his club since June 2019, following the defeat of Aston Villa under Frank Lampard in the Championship play-off final. Morris claims that the club has lost him by more than 200m.
According to reports, the first takeover deal collapsed after an EFL charge was filed in January 2020 in relation to the sale to Morris of Derby's Pride Park for 80m. It had previously been valued at 41m.
The club was able to sell the stadium and post a profit before taxes of 14.6 million in 2017-18. This allowed them to meet the EFL's spending requirements.
Although the charge was dropped in August 2020, the Rams could still face a separate points deduction. This is based on their accounting practices. No decision has been made about the punishment.
Derventio Holdings saw their bid to acquire Abu Dhabi-based Bin Zayed Group end in March. Erik Alonso, a Spanish businessman, was able to call off the takeover bid in May.
Rams: 'Serious inquiries'
Since before the opening of the summer window, Derby has been under a transfer embargo. This means that the Rams are restricted from signing free agents without strict salary conditions.
Morris said that there were 15 inquiries for the club this weekend. Two or three of them were "very serious".
Derby was 12th in the Championship Championship under the leadership of England's record goalscorer Rooney. He has been in permanent charge since January, when he retired as a player.
The automatic penalty for going into administration will mean that the Rams are six points behind second-bottom Nottingham Forest, their East Midlands counterparts.
"Rooney is the man who will lead the fight"
Ed Dawes, Derby County commentator for BBC Radio Derby:
There are tears, anger, frustration, and disbelief. Since Friday evening, the emotions of Derby County supporters.
Saturday's victory over Stoke City, and the atmosphere at Pride Park were a temporary solution to the eventual reality of the Rams being placed last in the Championship. That is where they are now.
Many supporters still have questions about Mel Morris' "cut and run" decision. We may only now find out what the state of the football club is like.
Lionel Pickering was the Rams' former chairman, and he spent all of his newspaper fortune on the Rams. He cannot turn around a debt of over 50 million. The person who will be the global multi-millionaire that can manage a business and a soccer club, while also being able to pay off the entire debt in one go will be required.
Supporters are concerned about more than the 12-point deduction. They also worry about the EFL's next move regarding unsubmitted accounts. Morris exclusively told me on Sunday that the EFL has failed to follow profit and sustainability rules in the recalculated documents after the amortization saga. This could result in more points being removed.
One thing that is evident in Derby is Wayne Rooney's support and the unity of his fans. Rooney is the leader of every battle. Although he may not be able to keep Derby in Championship, he said to me that he is fully committed to the club and the journey ahead. We will have to wait to see if he can keep Derby in the Championship.
In 1984, the club was close to bankruptcy. It's also 50 years since Brian Clough's team won their first First Division title. One penny for his thoughts.