AliousNottingham Forest are likely to once again be operating close to the profit and sustainability (PSR) limit this season following their previous financial challenges.
Football finance expert Stefan Borson shared his perspective with *Football Insider*, highlighting the club’s “very big” wage bill compared to its revenue. Forest faced a four-point deduction last season after being found in breach of Premier League spending rules, which allow clubs to lose no more than £105 million over a rolling three-year period.
The club narrowly avoided further sanctions for the 2023-24 season thanks to last-minute sales of players like Odysseas Vlachodimos, Orel Mangala, and Moussa Niakhate before the 30 June accounting deadline. These transfers ensured compliance with financial regulations.
Forest’s 2022-23 financial report revealed a record revenue of £155 million, but this was nearly matched by a staggering wage bill of £145 million.
Borson believes Forest will remain under financial scrutiny, stating:
“I still think it must be quite tight on PSR. They breached the rules for 2022-23, and for 2023-24, they were on the edge. I’m sure they avoided crossing the line, but it was only after selling Vlachodimos to Newcastle for £20 million.
“That sale created a profit on a player who barely played and was already 30. People can make their own judgments about that deal, but it kept them compliant.
“If they were that close for 2023-24, they’re almost certainly close again for 2024-25. Their wage bill is very high compared to their overall revenue.”
With a history of financial difficulties and a significant wage burden, Forest will need to tread carefully to avoid further breaches this season.
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