Nottingham Forest's '£100m' loss revealed by Stefan Borson
Nottingham Forest should not have avoided further financial punishment from UEFA amid big operating losses at the City Ground.
That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider that Forest were staring an £80million loss in the face before Elliot Anderson's sale.
Anderson's £116m move to Manchester City has certainly moved the dial at the City Ground, removing any reason for the club to sell more stars this summer.
However, the financial concerns have not completely disappeared, having been hit with a £2m fine for a breach of Squad Cost Ratio (SCR).
They were joined by Newcastle United, Chelsea and Aston Villa for breaching SCR regulations, but the Reds were also expected to fail in terms of football earnings.
That does not appear to be the case, though, and the huge sale of Anderson is only going to strengthen the club's position financially.
Nottingham Forest somehow avoid UEFA punishment
Speaking exclusively to Football Insider, Borson believes that some information is missing that might explain the lack of punishment.
"I did think they would breach the football earnings rule like Newcastle did with UEFA, but they didn't," he said.
"I don't know how they didn't, to be honest, because if you look at their numbers over the last three years, which should have filtered into the UEFA tests, they're not great.
"Put it that way. So these are the numbers that go to 24-25, and just in 24-25 alone, before adjustments back up, they lost nearly £80m.
"Before Elliott Anderson and the other sales this summer, they were probably somewhere in the order of an operating loss of over £100m.
"Clearly that's corrected by the sale of Anderson, but if you were to do the check on the three years to 24-25 for UEFA perspective with what looks like a €60m (£51m) cap, they should have failed.
"There's obviously a missing piece that we don't know about."
Could Oliver Glasner lose any other players this summer?
Supporters were stunned when news of Vitor Pereira's departure emerged, but the majority are incredibly excited for Oliver Glasner to take over.
With the sale of Anderson, there is very little reason for Forest to sell anyone else, but that doesn't mean that there isn't still interest.
Neco Williams, Murillo, Ibrahim Sangare and Morgan Gibbs-White are all linked with exits, but are now extremely unlikely to leave for financial reasons this summer.
Arnaud Kalimuendo may even be able to save his career at the City Ground after being sent on loan to Eintracht Frankfurt last season. Anything could happen under new management.