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Forest - Losing Up To £5M Per Annum

Forest - Losing Up To £5M Per Annum

The grim news in the clubs' accounts for last season is that for every year we are in League 1, it's costing the club £4M-£5M a season. That's the money they are losing out on in not being in the Championship.

The figures show that Forest ran at a loss of £2.6M for the last financial year and if it wasn't for a good run in the FA Cup, the figures would have been a lot worse. The games against Charlton and Chelsea were thought to have netted the club over £500,000, including gate receipts and TV revenue.

Chairman Nigel Doughty once again bankrolled the club to the tune of £3M, in the form of loans.

Turnover was up by over £1m to £9.2M. The club has stated that players wages have been reduced more to reflect the league we are in and that almost £500,000 was received from West Ham due to a sell on clause in the transfer of Marlon Harewood to Aston Villa. Ta very much.

Although these are only a summary of the financial figures, they show that we need to get out of this division sooner rather than later. Losing £5M a year in anyone's language is unsustainable and without the cash from Nigel Doughty, the club would be dead. To see the figures from the club, Click Here

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Writer:guinless
Date:Monday October 22 2007
Time: 7:24PM

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