Date:Saturday March 10 2012
Nottingham Forest Chief Executive Officer Mark Arthur, has confirmed through an official club statement, that the financial future of the club is secure until the beginning of the 2012/13 season and that talks are taking place to find new owners for the club.
Following the death of former owner Nigel Doughty in February, talks have been taking place with his estate to discuss the way forward for the club. Mark Arthur said. 'The new arrangements will cover the period up to the start of the 2012/13 season while discussions take place with potential purchasers. Discussions are taking place with several parties who have expressed an interest in acquiring the Club.'
The 'new arrangements' are in stark contrast to what was said by new Chairman Frank Clark in an interview he gave to Vital Forest, shortly after his appointment in November 2011. Frank Clark told us. 'Nigel has pledged to honour existing contracts for the next two and a half years, as well as financing the day to day running of the club in that time.'
The comments made by Mark Arthur yesterday, do not make clear whether Nigel Doughty's financial pledge will be honoured after the start of the 2012/13 season, or whether that financial security will be withdrawn. It also makes no mention of the £75.6m invested into the club by way of loans from Nigel Doughty, or whether that money has to be repaid, or recouped through any potential sale of the club. It all makes for an uncertain future for NFFC and its supporters.
The good news is that there does appear to be interest in buying the club and from more than one party. In the meantime and whilst talks continue, we can only hope we manage to retain our Championship status and that new fit and proper owners are found soon.
Date:Saturday March 10 2012
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