Vital Football

Latest Nottingham Forest News

Forest Release Financial Accounts For 2009-2010

Forest Release Financial Accounts For 2009-2010

Nottingham Forest have today released details of their financial accounts, for the season 2009-2010.

The figures show that revenue has grown by £2.6m to £14.7m for the period, which was helped by a 9% increase in gate receipts, as well as increased revenue from TV broadcasting and radio.

The report also states that in chairman Nigel Doughty's 11 year tenure of the club, he's put in over £60m from his own pocket, which the club must pay back by way of loan payments. Mr. Doughty has agreed to extend that agreement to pay back the loan until 2013.

NFFC Finance Director John Pelling said. 'Whilst the increase in turnover was most welcome, our transfer activity added £4.4m to our total wage bill. The club can only spend the level it does on player transfers and wages with the continuing support of Mr Doughty.'

So, whilst on the surface all appears well on the financial front (so long as the chairman continues to bail us out), the question remains as to why the chairman has refused to invest in new players this season? That question is particularly pertinent, when he and his CEO Mark Arthur are on record as saying funds are available. Despite those claims, the club have only managed to recruit Ryan Bertrand on a 6 month loan signing and the permanent signature of Radoslaw Majewski, where a deal was already agreed previously to secure his future at the club. The other question that needs answering, is how the chairman plans to bridge the gap between apparent financial stability and his stated ambition of regaining Premiership status for the club? If Nigel Doughty wants this club to progress, he has to pump even more funds from his own pocket into the club. It appears at this moment in time, that he is unwilling to do this, so further investment in the squad would seem unlikely.

One piece of genuine good news from the report, is that the monies owed to Nottingham City Council for the building of the new Trent End, will be paid off before this season ends. The announcement from the club also says that a full and detailed breakdown of the accounts will be shown in the next matchday programme, available at the game versus Bristol City on December 4.

Join The Vital Debate





Click here to join in the debate on the club forum.

Writer:guinless
Date:Friday November 19 2010
Time: 11:38AM

Comments

0
60m over Eleven years is some figure but that does divide down to 5.45m per year which to my mind aint to bad a figure for a man of his wealth to bob in. As we all know one season in the prem would wipe this out at a stroke. Nice to have some info coming out though.
eveshamred
22/11/2010 09:47:00
Page 1/1
  1. 1

Login to post a comment

Best of International Football News

-

Recent Nottingham Forest Articles

Karanka In Team Of The Week (23/1/18)

Nottingham Forest are represented in the latest Football League team of the week that has been selected after this week's action.

VARy Impressive At 98.9% Accuracy

The International Football Association Board have claimed that 98.9% of Video Assistant Referee decisions are correct during its two year worldwide trial.

Championship Boasts Third Biggest Crowds In Europe

Last week UEFA published their Club Licensing Benchmarking Report and one of the telling conclusions from the study was that the English Championship...

3 Things We Learned From Forest Win At Wolves

We`ve been treated to a sign of greater things for our team, who provided a significant increase in optimism with thea 2-0 win v Wolves.

Nottingham Forest Archived Articles

Vital Forest articles from

Site Journalists

Kev Finnegan
no email
Profile
Our Kids Dad
Editor email
Profile

Current Poll (see more polls)

Wolves MotM
Suggested By: Site Staff
Smith4%
Lichaj2%
Worrall6%
Mancienne4%
Fox6%
Bouchalakis30%
Cash26%
Bridcutt6%
Osborn8%
Dowell2%
Brereton2%
Sub - Clough2%
Sub - Darikwa2%
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Nottingham Forest Results (view all)

Nottingham Forest Fixtures

Vital Members League Table

RankNamePoints
1.Pope John XXIII276
2.Apollyon205
3.Ingy183
4.Old Red Fart176
5.the jock170
6.Our Kids Dad153
7.orbitalforest137
8.LyttleByLyttle127
9.mao tse tung111
10.Calvin Plummer109
Vital Football Comment