Stefan Borson

Sun 26 January 2025 18:21, UK

Nottingham Forest will almost certainly be close to the profit and sustainability (PSR) limit again this season following their previous breach.

That is the view of finance expert Stefan Borson, who exclusively told Football Insider the club have a “very big” wage bill relative to their overall revenue.

Forest were handed a four-point deduction last season after being charged with a spending breach by the Premier League, with top-flight clubs only permitted to lose £105million over a rolling three-year period.

Nuno Espirito Santo’s side were believed to be close to the limit for 2023-24, but the last-ditch sales of Odysseas Vlachodimos, Orel Mangala and Moussa Niakhate before the 30 June accounting deadline ensured they didn’t break the rules again.

Forest’s latest accounts for 2022-23 revealed their revenue reached a club-record £155million, while their wage bill stood at £145million.

Nottingham Forest will be close to PSR limit

Borson insisted the club will likely be close to the limit again this season due to their previous financial results.

“I still think it must be quite tight on PSR,” Borson told Football Insider.

“I haven’t done the numbers, but they did breach for 2022-23 and we know for 2023-24 they were right on the edge.

“I am sure they were the right side of it, but it was only after selling the goalkeeper Vlachodimos to Newcastle for £20million.

“That somehow gave them a profit on a player that barely ever played for them and was 30.

“People can judge what was going on with that deal, but that got them through.

“The bottom line is, they were close for 2023-24.

“If you were close for 2023-24, then you are almost certainly close for 2024-25 because they have got a very big wage bill relative to their revenue.”

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