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Todd, son of Rams legend Colin Todd, has been linked in recent weeks with a move to Perth Glory in the Australian A league.
Derby County paid £750,000 for the services of Todd in July 2007 from Blackburn. Things did not work out well for Todd at Derby and he played in only 36 games for the Rams, scoring one goal.
The non-renewal is seen as one of many to come over the summer break, reducing the Rams wages budget and enabling Nigel Clough to bring in around half a dozen new signings in an effort to get a solid defensive unit before next season...