Nottingham Forest staring down the barrel of £12m blow: 'Let's be very clear...'
Nottingham Forest face losing up to £12million if they cannot secure a new front-of-shirt sponsorship for this season.
That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that the Reds would provide significant value for an international company.
They are currently one of three Premier League clubs, alongside Chelsea and Sunderland, that are yet to have an agreement in place to sponsor their new shirts.
Wyness believes that the East Midlands outfit simply have to get a deal done, and noted that the name of owner Evangelos Marinakis should be enough in itself to attract businesses.
Premier League clubs have been hit hard by the UK government's ban on gambling companies as front-of-shirt sponsors, and several clubs have found the new rules difficult to navigate.
With Forest's first league game now just over one week away, they are staring down the barrel of not having a sponsorship agreed before the big kick-off.
Keith Wyness 'amazed' if Nottingham Forest do not address issue
Everton’s former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – has suggested that he would be "amazed" if Forest do not get something in place at the last-minute.
The Scottish businessman emphasised that a shortage of sponsorship deals can have a major impact on a club's finances for the year.
Speaking on the latest edition of Football Insider's Inside Track podcast, he outlined exactly how much the Reds are at risk of losing.
"It's a big hit. Let's be very clear about it. You're at somewhere between £8m and £12m to be on the Forest shirts," Wyness said.
"You'd think with the recent history and the amount of times that Marinakis is in the paper alone might help a sponsor think about it.
"But certainly there's value there for somebody internationally. I'd be amazed if they don't do something about it. Without a deal, it's not good.
"There are three clubs right now still without front-of-shirt sponsors. So they're not alone, but they have got to get a deal done."
Evangelos Marinakis has just made 'huge mistake' at Forest
Wyness told Football Insider earlier this week that Marinakis has made a "huge mistake" by launching a defamation lawsuit against Crystal Palace.
The Forest chief is taking the Eagles to court after their fans held up a banner during their clash last season, showing him holding a gun to the head of Morgan Gibbs-White.
Wyness was in no doubt that Marinakis' personal grievance is a huge "distraction" to his and his team's preparations for the new season, and made it clear that he "hasn't learned his lesson" from previous incidents.
The former boardroom man also outlined that the Greek businessman has little chance of winning his legal case, and feels that he would have been better served by turning a blind eye to the banner.