Nottingham Forest have just agreed ‘£80m’ deal – ‘it’s big one’
Nottingham Forest’s plans for the City Ground could be scuppered if they were relegated from the Premier League.
That is according to ex-Everton, Aston Villa, and Aberdeen chief executive Keith Wyness, speaking exclusively to Football Insider, on the numerous financial problems Nottingham Forest could face in the Championship.
Nottingham Forest’s 2-1 win over West Ham last time out in the Premier League leaves the Tricky Trees seven points above the bottom three.
The club have plans to expand the City Ground to become a 50,000-seater capacity stadium, with work potentially commencing in the summer.
Nottingham Forest ‘revenue streams could be in jeopardy’
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 – states that questions could arise over Nottingham Forest’s stadium project if they were relegated to the Championship.
Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness thinks Nottingham Forest require Premier League revenue to complete the build.
He told Football Insider‘s Inside Track podcast: “This is the pressure we’re talking about now. I mean, this relegation, and you understand why Americans don’t understand relegation, and hate it when they start to understand it, is because it is dropping off a cliff.
“And if you’ve got a major property project like the renovation of the City Ground that we’re talking about, which is a very impressive situation, that’s got to be propped up with Premier League revenue. There’s no doubt about it.
“I think Forest borrowed from Apollo £80million the other day in receivables. So there’s debt to be serviced now already and if you’re starting to lose that broadcast revenue, and you’re back into parachute payments, and well you’ll be able to probably maintain decent-sized City Ground attendances, naming rights would be an issue, sponsorships would be an issue, all those sort of other revenue streams become in jeopardy.
“It is a big one for them. Would they slow down part of the renovation? I believe it can be done in phases. So if they were to get relegated, then I’d expect to see it definitely done in phases, which is probably the smart thing to do.”
Nottingham Forest could be hit by departures
Nottingham Forest’s finances in the summer could be strengthened if they were forced to sell their star players.
The club have no plans to weaken the squad in the January transfer window, but stars may be lining up departures at the end of the season.
There is concern that the likes of Elliot Anderson could leave Nottingham Forest in the summer due to their position at the wrong end of the Premier League table.