Hmm. So the club "sold" the ground according to their accounts.
If that is what they did, then the club no longer own it and should presumably now be paying rent on it.
If that cannot be demonstrated in their accounts, then the ground sale is a sham and they are thus indeed in breach of the EFL rules and should face a bunch of points off.
And this loan therefore adds to the puzzle. If they are no longer owners of the ground then they surely cannot take out a loan secured against something they don't own?
If we rented a house, it would be blatantly impossible to take out a loan against that house.
Derby can't have their cake and eat it. Sham accounting going on no matter what.