Nottingham Forest posted an operating loss of £34m in their latest financial results, which was reduced to £15.5m pre-tax. The findings for the year ending June 2021 include a season played behind closed doors for the Reds due to the coronavirus pandemic.
Forest's financial losses were just over £2m more than they lost in the previous year when they posted a £31.9m loss. They also lost the same amount during the 2018/19 period.
The club's owner Evangelos Marinakis limited the extent of the losses after converting £12m of loans into equity, although Forest also recorded a wage bill of £37m that equated to £202 for every £100 of income.
