‘Let’s get real’ – Nottingham Forest could face ‘big’ financial problems after twist
Nottingham Forest have been warned that they could find themselves in big financial trouble if they are not careful.
The club are currently under the ownership of Greek billionaire Evangelos Marinakis, and he has been heavily investing over the past few years.
Last season, Forest qualified for the Conference League, and have now been promoted to the Europa League following Crystal Palace’s legal battle with UEFA.
Earlier this month, it was announced that the Trentside club have taken out an £80m loan with Apollo Management, a global asset management company based in New York.
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that Forest’s debt could come back to bite them.
‘Nottingham Forest will be in big trouble if relegated’
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness insisted that if Forest get relegated from the Premier League, then they will struggle to service their debt.
Despite an impressive campaign in the top flight last season, the two years before that saw the Nottingham-based side narrowly avoid relegation to the Championship.
Wyness added that Forest have to be careful with how they are using the debt, and must utilise it to generate more revenue.
He told Football Insider‘s Inside Track podcast: “I’m a big fan of debt provided you can service it. The big issue about this debt is when Forest have a bad season, get relegated, god forbid, then that’s when those things come home to roost.
“Obviously at the moment everybody’s riding high at Forest and that’s so far away from their reality, but they’ve got to remember it was only a couple of seasons ago that they were flirting down there, so let’s get real.
“More importantly for me is how you use that debt. If you’re putting that debt into assets that can then generate revenue, i.e., stadium developments and those sorts of things, good. If you’re using it on running expenses, bad. And that’s where I think Forest have got to be careful now.”
Forest lead race for Villa star
Meanwhile, Nottingham Forest are the current front-runners in their pursuit of Aston Villa star Jacob Ramsey despite growing interest from rival clubs, sources have told Football Insider.
Forest are facing competition from the likes of Everton, who are planning an ambitious move for the midfielder as they aim to bolster David Moyes’ squad.
Nuno Espirito Santo’s side would be prepared to move ahead of rivals for his signature, with the allure of European football and willingness to spend big giving them an advantage.
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