NOTTINGHAM FOREST ANNOUNCE OPERATING LOSS OF £59.6M.
In their first season back in the Premier League, Nottingham Forest has revealed an operating deficit of £59.6 million. The Reds are presently contesting a four-point PSR penalty.
The club was judged to have spent £34.5 million more than the three-season £61 million benchmark during the Profitability and Sustainability Rules (PSR) hearing earlier this month.
The 2022–2023 season had a 421% growth in revenues to £154.8 million, but administrative costs rose to £203.1 million from £73.7 million.
The number of playing personnel increased to 84 from £51.8 million, while total staff wages increased to £129.7 million.
In order to guarantee that the team was constructed for consistent Premier League success, the club announced: “The summer transfer window of 2022 saw a significant investment in the First Team, with further investment in both the January and summer transfer window in 2023.”
“The increase in pay and bonuses for playing Premier League Football is the primary cause of the notable increase in costs.” The ownership of the Club invested a record amount in recruitment to make sure the Club could draw in elite talent and give the club the best chance to compete in the Premier League. Bonuses for staff members who played and those who did not were also contingent upon League retention.
The four-point fine for violating PSR is presently being appealed by Forest, and it will be heard before April 12.
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