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Nottingham Forest owner Evangelos Marinakis clears club debt


 

Nottingham Forest club owner Evangelos Marinakis has reportedly turned 12 million pounds owed to him by the club into equity shares, effectively cancelling the debt in the process.

Marinakis, who bought the midlands side in 2017, has overseen their improvement in the previous 4 years, as the club managed to knock both Arsenal and Leicester City out of the FA Cup and now face a fifth-round tie against Huddersfield Town, with a potentially mouthwatering quarter-final outing lined up should they make it past their fellow Championship side.

In the Championship, too, Forest are impressing. Currently in 9th place, they sit just three points outside the play-off places, and have a game in hand on three of the sides above them, including two on Huddersfield, who themselves sit in third place.

The Sun report that 'Companies House... claim that Marinakis has turned £12million worth of loans to the Championship outfit into equity shares', which increases his stake in the club but, as mentioned above, cuts any debt that the club has to their owner.

It comes ahead of a potentially massive summer transfer window for the club - wunderkind Brennan Johnson is subject to significant Premier League interest, while they will also have to replace James Garner, who will return from his loan spell from Manchester United.

Djed Spence, too, is likely to return to Middlesbrough from his own loan spell, where he is expected to move on from the Riverside outfit.

Should Forest make it up into the Premier League for next season, there could be even more players on the radars of top-flight clubs. It could prove a pivotal transfer window.

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Ben Browning

Ben Browning

Football writer and analyst. Long-time writer of all things Arsenal and avid watcher of European football. Happy to discuss all things football over on Twitter.



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