02-03-2023, 01:12 PM
Nottingham Forest owner Evangelos Marinakis has made a further significant financial commitment to the club with the conversion of £41m worth of loans into shares in the 2021/22 financial year.
Converting the £41m debt into equity helps relieve the financial burden on the club, reaffirming Marinakis’ commitment to the continued development and future success of Nottingham Forest.
The move forms part of the club’s financial accounting process for its 2021/22 accounts. Details of the arrangement have been submitted to Companies House.
This follows a similar conversion of £12m of debt into equity in the previous year and over £20m in the year before that.
Chairman Nicholas Randall KC said: “Nottingham Forest is incredibly fortunate to have such generous financial support from its ownership.
“This latest financial commitment follows substantial spending on the playing squad in the Summer and January transfer windows, together with significant investment in infrastructure across the club.
“This includes the redevelopment of the tunnel, dressing rooms and hospitality areas in the Main Stand at The City Ground and improvements to pitches and training facilities at the Nigel Doughty Academy complex."
Converting the £41m debt into equity helps relieve the financial burden on the club, reaffirming Marinakis’ commitment to the continued development and future success of Nottingham Forest.
The move forms part of the club’s financial accounting process for its 2021/22 accounts. Details of the arrangement have been submitted to Companies House.
This follows a similar conversion of £12m of debt into equity in the previous year and over £20m in the year before that.
Chairman Nicholas Randall KC said: “Nottingham Forest is incredibly fortunate to have such generous financial support from its ownership.
“This latest financial commitment follows substantial spending on the playing squad in the Summer and January transfer windows, together with significant investment in infrastructure across the club.
“This includes the redevelopment of the tunnel, dressing rooms and hospitality areas in the Main Stand at The City Ground and improvements to pitches and training facilities at the Nigel Doughty Academy complex."