‘Marinakis is a canny operator’ – Nottingham Forest get stadium boost
Nottingham Forest have received a “fantastic” boost in terms of their stadium redevelopment project.
Forest are planning to expand the City Ground and increase the overall capacity by completely rebuilding the Peter Taylor Stand.
Owner Evangelos Marinakis had reportedly been considering moving the club to a new-build stadium outside the city centre, but a dispute over the freehold at the current location was resolved back in February.
Earlier this month it was announced that Forest 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 this is great news for the redevelopment of the City Ground.
‘Nottingham Forest get extra £25m for stadium’
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness insisted that it is a “fantastic move” if Forest use the extra £25m they received from the loan to expand their current stadium.
The new agreement with Apollo will help pay off an existing loan that the club has with Rights and Media Funding Group (RMF), while giving the club extra funds to invest with.
Wyness added that Marinakis is a “canny operator” and will utilise the surplus cash in the right way.
He told Football Insider‘s Inside Track podcast: “We know he’s got the big City Ground development and if that extra £25m is going into that, fantastic.
“He’s saying he’s got the money at a reasonable rate. I’ve looked at it, and my understanding is it’s still 8.75%, which is still a pretty high interest rate. Nevertheless, all he’s done is prudent housekeeping so far.
“We’ll have to see how he actually ends up spending that money. We used to call it the prune juice effect, where money goes into the club, then straight out of the club into the player’s car park. If that happens, then it won’t be a wise use of that money.
“But Marinakis is a canny operator, and I think it’s just at the moment, it’s a prudent thing to do, to loan the £80m. It depends on what he does with it, and that extra £25m. So at the moment, no red lights flashing whatsoever.”
Nottingham Forest lead race for Aston 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.
Football Insider exclusively revealed on 18 July that Aston Villa could accept £50million for Ramsey.
Forest 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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