The Rams, who have taken 10 points from eight games so far, have dropped to the bottom of the Championship, six points adrift of 23rd-placed Nottingham Forest.
Meanwhile, the Rams are facing separate punishment over alleged FFP breaches, and talkSPORT understands that may result in a further nine-point hit.
A statement from the club said that Andrew Hosking, Carl Jackson and Andrew Andronikou of business advisory firm Quantuma would serve as joint administrators.
Derby had signalled their intention to appoint administrators last week, citing a failure to identify new owners and the continued impact of Covid-19 on revenue streams.
In a statement, Hosking said: "I can confirm that Andrew Andronikou, Carl Jackson and I were appointed joint administrators of Derby County Football Club today.
"Covid-19 has had a significant impact on the finances of the club and its long-term ability to continue in its current form.
"We recognise that with the commencement of the 2021/22 season last month, this news will be of concern to stakeholders and fans, in addition to the city of Derby and the wider football community.
"We are in the early stages of assessing the options available to the club and would invite any interested parties to come forward.
"Our immediate objectives are to ensure the club completes all its fixtures in the Championship this season and finding interested parties to safeguard the club and its employees."
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