Derby County defender Curtis Davies insists the players will not "wave the white flag" despite the imminent threat of the club going into administration.

The 36-year-old has played 112 games for the club and scored in Saturday's 2-1 win over Stoke City.

He first heard news about the Rams going into administration on TV.

"I've been at this club a long time and I've seen a lot of highs and lows and a lot of things go on. That shocked me," Davies told BBC Radio Derby.

"I know there's been different financial things going on, we've had this thing hanging over us, that thing, about four different charges, one got cleared, another one popped up, so us as players, we've all been playing with the idea that there's probably going to be a points deduction for something down the line."

He continued: "We're not going to give up, we're not going to wave the white flag, we're not going to throw in the towel.

"Ultimately, we are a group that are determined, a group that are together, we're working hard for one another, working hard for our individual selves and working hard for the shirt."

Davies first joined Derby from Hull City in the summer of 2017 and agreed a new one-year contract last month after being restricted to only 14 appearances in 2020-21 because of an Achilles injury.

The Rams are still subject to a transfer embargo and were only able to bring in free agents over the summer to supplement boss Wayne Rooney's squad.

Owner Mel Morris has apologised to supporters for the dire financial situation Derby are in and Davies has urged their young players to be ready because it may lead to some of their best players leaving the club.

"Throughout the rest of the season there might be people sold, we might have to sell our assets. Does that mean a (Louie) Sibley, does that mean a (Max) Bird, a (Jason) Knight? I don't know. But all I can say to them is keep focusing, keep ready because they might be needed to see out the season," he said.

"I had administration as a kid at Luton and that's the thing that afforded me my debut. From there I was able to get the trust of the manager and from there I made a career.

"So, as much as it's doom and gloom, some of those young lads might get an opportunity that maybe they haven't merited but they need to take it with both hands and make a career - that's all I can say to them."

Meanwhile, Derby will receive £100,000 if teenage winger Kaide Gordon makes his debut for Liverpool against Norwich in the Carabao Cup later on Tuesday.

The Rams sold Gordon to Liverpool for £1.1m in February and will receive a number of additional payments depending on his progress.