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Forest make big losses as is usual in Championship

Nottingham Forest lost £36 million from day to day operations in 2018/19, reports Kieran Maguire of the PriceofFootball. The Liverpool-based football finance guru comments, 'Forest's operating losses also mid table in terms of the car crash that is the Championship. It's noticeable that club with the biggest losses {Aston Villa) was promoted & the only one to make a profit (Rotherham United) was relegated.'

Forest income puts them mid table in Championship due to lack of parachute payments and not being Leeds. Forest’s income up slightly, mainly due to higher sponsorship and loan fee income.

The Forest wage bill was not excessive by Championship standards. Average weekly wage was just short of £17k a week. Wages were up by 26 per cent. They paid £143 in wages for every £100 of income, a worrying ratio, but far from unusual in the Championship as teams aim for promotion.

Forest bought players for £22.7 million in 2018/19 and had sales of £11 million. Forest were owed £8m by other clubs for transfers but themselves owe £13m. Forest have outstanding loans of £59 million. Forest borrowed £23 million in 2018/19, mainly from owner.

Maguire comments, 'For anyone wondering about Forest's FFP status, I estimate they have no problems in being within the three year rolling loss limit of £39 million mainly due to player sales profits covering the day to day losses.'

Thanks to Kieran Maguire for these figures. His podcast is well worth listening to, and his new book The Price of £ootball is very informative.

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