Nottingham Forest loan is done after £17m Marinakis move
Nottingham Forest owner Evangelos Marinakis has converted £17million of loans into equity in the form of a new share issue, sources have told Football Insider.
A Companies House submission on 22 July revealed the loans have been switched into 1.7 billion shares worth one pence each.
The Greek billionaire has made a series of moves to convert debt into equity since securing his takeover at the City Ground in 2017.
Football Insider revealed in January Marinakis had converted £154million of loans into equity in two transactions similar to his latest manoeuvre.
The 57-year-old ceased control of Forest in April by putting his shares into a blind trust in preparation for the club’s qualification for European football.
Nuno Espirito Santo’s side and Marinakis-owned Olympiakos were both on course to qualify for the Champions League, with Uefa’s rules prohibiting clubs from being controlled by the same owners or directors from competing in the same competition.
However, the Greek has now regained control at the City Ground as the two clubs will be competing in different European competitions next season.
Nottingham Forest could get £20m boost after Crystal Palace twist
Forest enjoyed a strong 2024-25 season, but a late dip in form saw them slide down the Premier League table and end the campaign in seventh spot, just one point behind fifth-place Newcastle United.
Nuno’s side were set to compete in the Conference League next season before Crystal Palace’s removal from the Europa League saw them promoted up into the second-tier competition.
However, Forest’s place in the Europa League is yet to be fully confirmed as Palace have submitted an appeal to the Court of Arbitration for Sport (CAS) following their demotion to the Conference League.
The international body, which is based in Lausanne, Switzerland, settles sports-related disputes through arbitration and mediation.
Finance expert Stefan Borson told Football Insider Forest could earn up to £20million more from the Europa League than the Conference League due to the significant difference in prize money on offer between the two competitions.
Tottenham expected to sign Nottingham Forest star
In terms of a potential exit at the City Ground, Football Insider revealed on 18 July Tottenham are expected to sign Morgan Gibbs-White despite the “messy” situation that saw Forest threaten legal action.
Forest accused Spurs of making an illegal approach to the England international after they didn’t give permission for the talks to take place.
The attacking midfielder was set to undergo a medical at Tottenham’s training ground after agreeing to the switch before Forest moved to block the deal.
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