Nottingham Forest have 'breached' financial rules - Stefan Borson sets alarm bells ringing

Nottingham Forest still have concerns over Squad Cost Ratio (SCR) restrictions despite the eye-watering sale of Elliot Anderson.

That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider that the £116million exit is likely to have saved the club from any further short-term financial issues.

Forest already appear to be reinvesting that fee back in the transfer market, with a major deal close to being completed for Ousmane Diomande.

Tottenham Hotspur's Lucas Bergvall could also be signed if the Reds meet the £60m fee, and multiple full-backs are also being considered at the City Ground.

All of these deals have raised concerns over potential financial setbacks. Forest fans have not forgotten the four-point deduction in the 2023-24 season.

While there is no immediate threat alongside the River Trent, SCR still has a hold on Forest's finances over the next few seasons due to their Europa League campaign.

UEFA take 'lenient approach' with Nottingham Forest

Speaking exclusively to Football Insider, Borson stated that the Reds' "small" breach of SCR will affect the club's plans, but that any major impact will come much later.

"I think they've got some issues on the regulatory side. sort of, you know, UEFA type stuff," he said.

"We know that they've breached SCR but only by a small amount. So they'll be up against it from an SCR perspective.

"But when I say up against it, I'm talking about up against the 85 per cent, and they've got this 35 per cent on top, and they're not in Europe.

"So nothing's going to bite in the in the immediate season. But it's very hard to see how they avoided a settlement agreement with UEFA.

"But I think probably what happened was that they could point to the [Elliot] Anderson deal likely to happen this summer. And so UEFA took a kind of lenient approach.

"That's pure speculation, but looking at the numbers, there's no other real way in which they could have satisfied the football earnings test. So something like that must have happened."

Who else could Oliver Glasner sacrifice this summer?

With multiple players expected to join Xaver Schlager and Diomande at the City Ground, it would only make sense to see some exits soon.

Jair Cunha, despite an incredible start to life in England, has been linked with a return to Brazil, while Arnaud Kalimuendo's future remains uncertain.

Taiwo Awoniyi has entered into the final 12 months of his contract, so it would make sense for the Reds to cash in on him while still possible.

Nicolo Savona could easily be replaced as well, with deals for Givairo Read and Fiorentina's Dodo being explored ahead of the 2026-27 campaign.