Forest borrows £80 million.
Forest borrows £80 million.
According to the Financial Times, Apollo Management has made its first known venture into English Premier League football by lending Nottingham Forest Football Club £80 million in costly debt to help it settle other obligations.
According to company papers, the US group offered a three-year term loan in December at an annual interest rate of 8.75 percent. The remaining £25 million is used for extra working capital, while the remaining £55 million has been used to repay an existing facility due to Rights and Media Funding Group, a lender that has previously financed Premier League team Everton.
Apollo’s loan, which was backed by assets like Nottingham Forest’s stadium, is an illustration of the expanding practice of large US private capital firms lending high-interest debt to financially strapped European football teams. Premier League rival Chelsea and Olympique Lyon of France are among the clubs who have taken out loans from private credit lenders based in the United States.
One of the stands at Nottingham Forest’s City Ground will be destroyed and replaced as part of a planned renovation that would increase the stadium’s overall capacity to 35,000.
The Greek shipping tycoon Evangelos Marinakis owns Nottingham Forest, which had an operating loss of £73 million last year despite making an overall profit of £12.1 million from player sales of over £100 million.
After exceeding a “profit and sustainability” loss threshold in the 2023–2024 Premier League season, the team was docked four points and placed in the relegation zone. After qualifying for the Europa League, the second-most prestigious club competition in Europe, the team’s finances are expected to improve this year. Due to Crystal Palace’s disqualification from the competition, Forest, which placed seventh in the league the previous season, has been given a spot.
Since the club was sold to a Chinese consortium in August 2016 for a sum above £200 million to purchase the prior owner Jeremy Peace’s interest, West Bromwich Albion had essentially been in decline. The team suffered greatly under controlling shareholder Guochuan Lai’s leadership, but his unloved
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