An expert has said the value of Nottingham Forest winning promotion to the Premier League would go "far beyond" the estimated £170m value of the game to the club. Dubbed the 'richest game in football', it's widely calculated that winning the Championship play-off final is worth that amount.
Nottingham Forest booked their place in that tie at Wembley, where they will play Huddersfield Town on May 29. It will be the Reds' first trip to the new Wembley, and comes after they beat Sheffield United in their semi-final.
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Forest looked to have the tie under control, winning the first leg 2-1 at Bramall Lane and leading 1-0 in the reverse game at half-time on Tuesday (May 17) night. But the Blades hit back to score two before the final whistle, sending the game into extra-time and then penalties.
The Reds kept their nerve to beat Sheffield United, with goalkeeper Brice Samba the hero, saving three penalties as Forest beat the Blades 3-2 in the shootout. But the game was marred by an incident in which a man has been arrested for allegedly assaulting Sheffield United striker Billy Sharp after the full-time whistle during a pitch invasion.
Forest are just one win away from promotion to the Premier League, which the Reds have not played in for 23 years, and if the club achieves that feat, experts have said this will be a big boost to Nottingham city as a whole, both helping the local economy and raising the profile of the city internationally. One expert thinks the value of a Forest win to the city would go "far beyond" what the football club would earn financially.
Scott Knowles, chief executive of East Midlands Chamber, said: "Tuesday night's victory was a fantastic moment for Nottingham Forest fans and the many businesses that benefitted from the huge excitement around the game as thousands streamed into bars, restaurants and cafés before and after the match. They now have another huge occasion to look forward to later this month and while 36,000 supporters will descend on Wembley, many of those not making the trip will no doubt want to mark the club's biggest game in a generation alongside other Forest followers in pubs across Nottinghamshire.
"The hospitality industry has endured difficult times over the past couple of years, so major events like these provide a considerable unexpected boost and allow them to claw back some of the lost earnings from other tough periods. The Championship play-off final is billed as the most valuable game in football as promotion to the Premier League is estimated to be worth £170m to the winner, but the impact of a victory on the city of Nottingham would go far beyond this - giving it international profile at a time when inward investment is being sought for transformative regeneration projects.
"There's also the prospect of different clubs' fans visiting Nottingham, perhaps for the first time - boosting the local economy via spending in pubs, hotels, restaurants and shops, but also enhancing the city’s wider reputation as a destination. In short, Come On You Reds!"
Another expert agrees Forest achieving promotion would boost Nottingham's profile on an international level. He cited Leicester City as an example of how this is achieved.
Will Rossiter, associate professor in economics at Nottingham Trent University, said: "Anecdotally, having a Premier League team makes a difference to the way places are perceived and known about, especially on an international level. I'm from Leicester originally and in 2016 when they won the title, I travelled to a conference in Austria and it was all people wanted to talk about.
"I'm not suggesting Forest need to win the Premier League, but it illustrates how something like this happens. The profile of the club is associated with how people view the city.
"The greater part of the economic benefits generally comes from expenditure of fans, people who are coming to games to drive local economic impact. Some of that will be within the ground, but that feeds back through the football club supply chain, to food and drink and what visitors and spectators spend in the wider city.
"If more come in because the team is more successful, there is more expenditure, and the biggest impact tends to be from overnight stays. It's important not to dismiss the value of less tangible, but worthwhile, things the club can do for the city."
Because of how well Nottingham Forest has performed on the pitch, local businesses have seen a significant upturn in the amount of people coming through their doors. It's even led to some being able to expand, and there is hope for continued growth should the Reds achieve promotion.
Mark James, owner of The Boot Room on Pavilion Road, next to the City Ground, said: "We opened earlier in 2021 and we've been here alongside this great run, so it's been very romantic for us. The good form has helped massively; when Forest started poorly, you couldn't give beer away to get people in, but now we've got reservations every game, the same customers week in week out.
"If Forest get promoted, I'd expect more people to come into us watching other Premier League games, as fans would have an interest in those games we can show to see who they're going up against, there will be a lot more interest. The Premier League is already the most viewed sporting event we have in here, and Forest's promotion would make that even bigger."
Sam Ditchfield, general manager of the Trent Navigation Inn on Meadow Lane, said: "Forest's good form has already had a massive impact for us financially, we've been able to employ more people because more are going to the games and visiting the pub. Matchdays for us are so massive now, to the point where we're expanding our operation with another bar outside.
"Next season could be absolutely massive, it's difficult to comprehend. When you think we had the likes of Arsenal and Liverpool in the FA Cup, to have that on a weekly basis would be insane."
Both businesses were extremely thankful to Forest fans, with Mark saying they "wouldn't have a business" without them. Local councils have reiterated how much of a boost Nottingham Forest's performances have been to the local economy.
City Council Leader, Cllr David Mellen, said he was delighted that Nottingham Forest’s fantastic win has given them the chance for an historic promotion to the Premier League after two decades outside the top flight.
"Not only would this be an incredible footballing achievement for a team which was languishing at the bottom of the Championship eight months ago, but it would also be a huge boost for the whole of Nottingham," said Cllr Mellen.
“Beyond the sheer pride and joy that it would bring us all, having a team in the Premier League could give the local economy an estimated £120m boost. We expect it could lead to an extra 100,000 visitors to the city through more football visitors as well as an increase in reputation helping to attract students applying to our two universities and people looking for holiday breaks, along with extra spend by Premier League club staff and players.
“Being a Premier League city could make it easier to attract investment to support new business such as hotels and casinos and major developments such as Broad Marsh and the Island Quarter. We’re all so proud of the players and the manager who have achieved so much and we wish them all the best for their match against Huddersfield.”
A Rushcliffe Borough Council spokesperson said: "We congratulate Nottingham Forest on a wonderful achievement of reaching a Championship play-off final. The club play such an integral part of life here in Rushcliffe and regardless of the outcome at Wembley, their success on the pitch this season has boosted local businesses such as in the hospitality and retail trades immeasurably.
"Any promotion to the Premier League would only build on this boost to the Rushcliffe economy and enhance the Borough’s ‘Great Place, Great Lifestyle, Great Sport’ ethos."
