The most recent financial statements for Nottingham Forest provide an update on the amounts related to Brennan Johnson’s Tottenham transfer.
Johnson was sold by the Reds to Spurs last summer for an estimated £47.5 million, and as part of the record transaction, the club is rumored to have a 10% sell-on clause.
According to Forest’s most recent financial statements, a bank and the Reds made an agreement in October of last year to “bring forward the sales proceeds” of the Johnson transfer deal. This arrangement allowed the Reds to bank £28.2 million in future Tottenham payment installments and return the bank over a three-year period at an 8.2% interest rate.
The FFP infringement is addressed as Forest’s most recent financial statements show the exact extent of player expenditure.
Premier League issues statement; Forest receives apology
Forest’s annual report stated, “To bring forward the sale proceeds from the sale of Brennan Johnson, the subsidiary Nottingham Forest Football Club Limited entered into a term facility agreement for £28.2m with an Independent UK based financial Institution on October 31, 2023.” “This facility has a three-year repayment term with an 8.2% interest rate.”
