Nottingham Forest owner Evangelos Marinakis has converted £41 million worth of loans into shares, in a "further significant financial commitment" to the club.
A “statement of capital following an allotment of shares” has been published on the Companies House website showing equity changes at the club. It details how £41m worth of loans have been converted into equity to further support the Reds in the 2021/22 financial year, stating that “the shares were allotted in consideration of a waiver of a debt of £41,000,000.
Converting the loans into equity takes the debt off Forest and is seen as an indication of Marinakis’ investment in the club. It is something the Greek businessman has done for the last few years, since taking over in 2017.
