Exclusive: Nottingham Forest loan confirmed after official documents filed

James holds a degree in Sports Journalism and Communications (MA) from the Real Madrid Graduate School. He has experience working for a number of local news outlets as well as the Sunday Mirror and Real Madrid TV. James is from Scunthorpe and has an affinity with Scunthorpe United, but is also a huge West Ham supporter and an expert on all things to do with the Hammers. He started working for Breaking Media in July 2023, initially writing on the Club Sites, where he specialised in West Ham content, before moving to Football Insider – where he is now an expert in football finance, speaking regularly with Stefan Borson and Keith Wyness to generate high-quality content in all things related to finance in the Premier League, Football League, and Scottish Premiership.

Published on:

01 Jan 2025, 10:17 am

Nottingham Forest owner Evangelos Marinakis has converted £82million of loans into equity in the form of a new share issue, sources have told Football Insider.

A Companies House submission on 23 December revealed the loans have been switched into 82 billion shares worth one pence each.

Marinakis has made a series of moves to convert debt into equity since securing his takeover at the City Ground in 2017.

The latest injection comes after it was confirmed shareholder loans will be required to be submitted as an associated party transaction (APT) and undergo a fair market value assessment following the Premier League’s recent legal battle with Manchester City.

Sources have told Football Insider Marinakis converting the £82million into equity ensures there will be no interest charged on the loans previously provided to the club.

Nottingham Forest on the up after financial concerns

Forest have faced financial challenges over the past couple of seasons after being handed a four-point deduction last year for breaching the profit and sustainability rules (PSR).

They were believed to be close to breaching the rules again in 2023-24, but some last-ditch sales are expected to see them remain within the £105million limit over a three-year period.

Nuno Espirito Santo led his side to Premier League safety last season before drastically improving their on-field performances in the first half of this campaign.

They currently sit second in the table after securing victories in 11 of their opening 19 games of the season.

Finance expert Stefan Borson told Football Insider Forest have blown some of their top-flight rivals away after signing several gems to improve their squad.

(Credit: Getty Images)

There has, however, been plenty of changes behind the scenes at the City Ground over the past few months.

Football Insider revealed on 3 October Nicholas Randall KC has taken up the role of Forest chairman for the second time following Tom Cartledge’s decision to step down.

Lina Souloukou will also begin work in Nottingham on 5 January after she has recently been appointed as the club’s new CEO.

In other news, Nottingham Forest star to agree new deal soon.

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Nottingham Forest

Evangelos Marinakis