Officials at Derby County Football Club have refused a £37m offer from a former chairman to buy the club, though the online betting suggests that another bid might be accepted in the near future.

Businessman Peter Gadsby made the bid to take back ownership after becoming disillusioned with the direction the Pride Park club was taking. The deal might depend on Forex Trading, with the dollar at a record low to the pound.

His bid included a promise of £5m that could be spent by manager Nigel Clough this summer, and a proposal to build a sports village next to Pride Park.

Club officials said they had "absolutely no intention of selling".

In a statement Mr Gadsby said: "Alongside this bid, I am also announcing a major redevelopment initiative for 70 acres of land adjoining Pride Park and renewing my commitment to the Pride Plaza project, which offers a variety of new dining and refreshment options to improve the match-day experience for supporters.

"These developments would provide superb new amenities for the city and its residents, offer considerable benefits to Rams fans and generate significant revenues for the club.