Nottingham Forest £72m confirmed: official paperwork filed
Nottingham Forest owner Evangelos Marinakis has converted £72million of loans into equity in the form of a new share issue, sources have told Football Insider.
A Companies House submission on 13 January, backdated to 10 January, revealed the loans have been switched into 7.2 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 any shareholder loans still in effect after 11 January must 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’s decision to convert the £72million into equity has ensured Forest will not be forced to pay any interest on his loans.
Nottingham Forest have avoided financial hit after loan update
Football Insider revealed on 1 January the Greek businessman had converted £82million into equity in a similar transaction.
Finance expert Stefan Borson told Football Insider that manoeuvre prevented Forest from suffering an £8million hit following the changes to the APT rules.
The Nottingham club 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 will face no such punishment this year after it was confirmed earlier this week none of the 20 top-flight clubs committed a spending breach in 2023-24.
Forest’s fortunes on the pitch have also drastically improved this season after they had previously been involved in relegation battles since securing their long-awaited return to the Premier League in 2022.
Nuno Espirito Santo’s side currently sit third in the table, having drawn 1-1 with league leaders Liverpool in their latest outing.
Former Manchester United chief scout Mick Brown told Football Insider Marinakis is ready to splash the cash on new signings this month following his club’s strong start to the season.
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