Evangelos Marinakis reaffirms financial commitment with Forest

Manos Staramopoulos • mar 12, 2023

Marinakis has made a further significant financial commitment to the club with the conversion of loans worth £41m in equity, in shares of the financial year 2021/22

Evangelos Marinakis Nottingham Forest owner

The management of Nottingham Forest announced on Thursday (2/3) that its owner (and chairman and "strong man" of Olympiakos), Evangelos Marinakis, "has made a further significant financial commitment to the club with the conversion of loans worth £41m in equity, in shares of the financial year 2021/22".


As stated, "the conversion of £41m of debt into equity helps ease the club's financial burden, confirming Marinakis' commitment to the continued growth and future success of Nottingham Forest."


This is a move which forms part of the club's financial accounting process for the 2021/22 accounts.


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.



President Randall

 

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." 


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