Latest Nottingham Forest news from NottinghamshireLive as the Reds have been charged by the Premier League for breaching its profit and sustainability rules
Nottingham Forest have been given a “raw deal” over Financial Fair Play, says football finance expert Kieran Maguire.
It’s understood that the Reds, who were accused of breaking the Premier League’s profit and sustainability regulations, will find out this week when their independent commission hearing is scheduled. It is anticipated to happen in the first two weeks of March.
According to Premier League regulations, clubs can only lose up to £105 million in a rolling three-year period, or £35 million every season. This is lowered for promoted teams, therefore Forest can only lose a total of £61 million over the last three seasons—£13 million for the two Championship seasons before promotion and an additional £35 million the previous season.
Maguire told me, “In my opinion, Forest have gotten a pretty raw deal in terms of Financial Fair Play.””They were promoted against squads that cost billions of pounds, with a squad that cost £12 million.” Their permissible deficit for FFP purposes is merely £61 million, while the established Premier League clubs have an allowable loss of £105 million.
Having said that, it appears like they have gone over the bounds. In the EFL, they were quite near to them. They signed an absurd number of players for large sums of money, and some for lesser sums but with large salaries.
“So it’s come as no surprise that when I did my sums, I called them out a couple of weeks before the announcement was made as being very high risk.”
The Premier League had charged Forest back in January. Following the accusation, the team released the following statement: “Nottingham Forest recognises the Premier League’s announcement stating that the club has been charged with a breach of the league’s Profitability and Sustainability Rules today. The club is confident in a prompt and equitable settlement and plans to continue working closely with the Premier League on this issue.
As per the regulations, an impartial commission hearing must be completed by April 8th, after charges are filed.
See more updates on https://sportupdates.co.uk/
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