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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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The Journalist

Writer: guinless Mail feedback, articles or suggestions

Date:Monday October 22 2007

Time: 7:24PM

 

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