Nottingham Forest Finances 2021/22

Lost In The Supermarket

Nottingham Forest’s 2021/22 financials cover “a remarkable season on the pitch”, which ended up with the club being promoted to the Premier League for the first time in 23 years. They finished 4th in the Championship, but won the play-offs, defeating Huddersfield Town in the final at Wembley.

Forest said that this achievement “was made possible by the continuing financial support of the ownership” of Evangelos Marinakis (80%) and Sokratis Kominakis (20%).

They added that this success was “the culmination of all the hard work of those at the club together with the investment made by the ownership since 2017” when the Greeks had acquired the club.

Manager Steve Cooper could also claim a large share of the credit, as he replaced Chris Hughton in September after a poor start to the season.

Profit/(Loss) 2021/22

Nottingham Forest’s pre-tax loss tripled from £15.5m to £46.2m, despite revenue rising £11.3m (61%) from £18.4m to a club record £29.7m, as operating expenses increased by £25m (46%) from £54m to £79m.

In addition, profit from player sales fell £10.2m from £14.3m to just £4.1m, while there was no repeat of the previous year’s £5m loan write-off or £1.1m other operating income.

Forest’s higher revenue was largely due to the return of fans to the stadium following the removal of COVID restrictions, which helped drive increases in match day, up from £1.3m to £8.7m, and commercial, up £2.7m (48%) from £5.6m to £8.3m.

Broadcasting also rose £1.2m (11%) from £11.0m to £12.2m, but player loans slightly fell from £0.6m to £0.5m.