Doughty takes spending on Forest to £45m

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Saturday, December 13, 2008
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This is Nottingham

CHAIRMAN Nigel Doughty underlined his commitment to Nottingham Forest – by putting £6.6m into the club out of his own pocket last season.

Accounts released by the club today, it shows the owner ploughed in the cash to almost make up for the £6.7m loss the club ran up in 2007/08.

Missing out on cup runs saw the club's income reduced from £9.2m to £7.6m.

Bonuses triggered by winning promotion to the Championship saw the Reds staff costs rise to £7.7m – £100,000 more than the club made.

But finance director John Pelling said the club was in a healthy position because the chairman had made it clear he was prepared to bridge the gap between the loss and any money recouped from player sales.

He said: "Since 1999 Nigel has put in £45m, £11m in equity and £34m through debt.

"Nigel has put in over £6m last year and it is not a subject up for debate with him – he shows no signs at all of not supporting the club financially.

"He has made that clear on a number of occasions and his commitment remains there to keep the club going in the size and shape that it is. We cannot hide the fact we place a lot of reliance on Nigel, but there is obviously a lot of trade going on in terms of gate revenue, commercial revenue as well, without which the club could not survive.

"We're fortunate that we have Nigel's support and the key aspect for me is keeping him informed so he has an expectation of where we are going to be financially.

"We would not have gone for that level (of staff budget) if he had not been informed of it at the start of the season and wasn't aware of the financial implications of the decisions we make as and when we are bringing players in or signing new contracts.

"I need to keep Nigel informed all the time of where we are financially and the financial implications of the decisions we make.

"We had revenue of £7.6m last year while in League One and this year I would expect the revenues to go to the order of £11m or £12m.

"Clearly that is better news but with that comes enhanced contracts and payments so we are still expecting to run at a loss even this year in the Championship.

"But we are financially in a very healthy position because we have a backer in Nigel who is prepared to back us in the transfer market and with player contracts."

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  • Profile image for This is Nottingham

    by S, Wilford

    Monday, December 15 2008, 12:05AM

    “Thanks Gary for those incisive pearls of fiscal wisdom.

    So, now you have gotten that off your chest. The 4.5mill Doughty has chipped in so generously, did he do it as he's top bloke or for his monthly Profit and Loss statement?

    Seriously Gary, you underestimate the people out here and our capacity to workout which side of the fence you are on.

    Doughty is a a businessman
    first and always.

    Don't try to defend the idnefensible anymore, its past the point of no return. He tried, he supported (to what degree, will always be debatable) and he failed.

    Keep banging on about out knight in not so shiny armour and how he saved us from ourselves and certain oblivion is old hat.

    Results Gar, results are what make the world go round, not how much folding you have and how you don't spend it wisely.

    Doughty doesn't want ex players or managers he can't control.

    Bottom line he wants yes men. Benevolent dictator perhaps, but no saviour and running out of time.

    Too many bad signings, too many broken promises, too many lame duck managers. No one with any football nous to help because Nigel Doughty wants the glory. Well if propping up the CCC is glory, then he's sets incredibly "Low Standards" or perhaps that should be Key Performance Indicators!!

    If Doughtys reign has been so 'wonderful' for Forest why are we doing so badly.... was there an "R" in the month or the moon on the wrong side of Saturn?

    The truth hurts Gary and in case you haven't realised Forest is club hurting... 10 years of hurting to be blunt.”

  • Profile image for This is Nottingham

    by Joe Baker, Zigger Zagger

    Sunday, December 14 2008, 8:26PM

    “Gary, Westborough, TOTAL TOSH, HE'S CHARGING ABOUT 12% INTEREST ON THE MONIES HE PUT UP, which is far more than he can get elsewhere , so whilst the loans might not be repaid, he's lapping up the interest”

  • Profile image for This is Nottingham

    by terry mellard, nottingham

    Sunday, December 14 2008, 8:17PM

    “Stop Bleeting Rams Fan who asked you to chip in we all know what Derbys famous for its all that sheep s-it comes out of both ends”

  • Profile image for This is Nottingham

    by dave1884, derby, home of the rams.

    Sunday, December 14 2008, 6:35PM

    “i'm glad to see forest aren't as rich as their fans make out.

    next time you lot have a pop at the rams concerning our finances, you might want to take a look at yourselves from now on.

    imagine what would happen if you chairman decided to call it a day and moved on, you'd be really up creek without a paddle. then again, you boat is slowly sinking anyway, sinking back to league one.

    up the rams.”

  • Profile image for This is Nottingham

    by Gary, Westborough

    Sunday, December 14 2008, 4:03PM

    “Anybody slagging ND off here doesn't have a clue about the realities of the footballing world that Forest must survive in now. The monies ND has put in have either been to buy out shares (equity) in a failing business or for the most part, in the form of directors loans. That means he just puts money into the club for no benefit, with no guarantee of a return. The directors loans can only really be repaid out of profits earned. Since Forest are operating at a loss year on year, ND is keeping Forest afloat. There is no mention of any agreed interest rates in any accounts so don't just make stuff up. Most people on here slagging ND off haven't got a clue about the difficulties of running a football club let alone a business. When ND took over Forest they were facing bankruptcy and about to go out of business for good. ND is the reason Forest are still in business & you & I can still moan about them at all. I for one, like many other fans thank him whole heartedly for all his efforts. ND pays over £6m a year for his season ticket, is a genuine fan, but still gets slagged of by idiotic nobodies for the privelage. Luckily he doesn't listen to Mr nobody the part time footy pundit for his business advice. He has made a success of every business he has ever bought & given time will do the same with Forest. Thank you ND, keep the faith & ignore the idiots. They know not what they say or do.”

  • Profile image for This is Nottingham

    by S, Wilford

    Sunday, December 14 2008, 6:34AM

    “Ahhh here it comes the 10th Annual ND Spin Doctors Convention is in town. playing at a ground near you!!

    So let me see another 6 mill was it Nige. Hmm if I was shareholder I'd say a rather sub par performance this last 39 out of the last 40 quarters.

    Spin it all you want Nige its not the sort of results I'd want to hear on my investment.

    The bean counter says "the club was in a healthy position because the chairman had made it clear he was prepared to bridge the gap between the loss and any money recouped from player sales."

    So, fiscally we are okey dokey, mentally, physically and the small matter offWINS, we aren't so 'healthy' are we Nige.

    The bean counter then goes on ""I need to keep Nigel informed all the time of where we are financially and the financial implications of the decisions we make."

    Thats fine off the field, who keeps Nige informed about the team out there each week
    Noddy, perhaps Chorlton
    and his Wheelie mates...Hey up chuck, going grand int it

    So when CC and Nige sit down for post game drinkies what does CC tell Nige " Bit of a flap on at HQ, nothing I can't handle, we'll be home by christmas... toodle pip"

    ....and finally The BeanCounters finest hour ""We're fortunate that we have Nigel's support."

    So based on that last comment our lack of success is down entirely to Nigel Doughty and his 4.5m per year "investments" ?

    Just think what the club could have achieved WITHOUT Nige and his money.

    Pay peanuts you get monkeys, pay Nige we get spin.”

  • Profile image for This is Nottingham

    by kirk, Nottm

    Saturday, December 13 2008, 7:24PM

    “Oh and Chris you don't know me so cut out the insults eh?? If you want to start them I could imagine you as a happy clappy student type who frequents on forums like LTLF..... You use the" we have been unlucky and we don't deserve to be where we are" card... You wear jester hats to 3rd round FA cup ties, and have dusted it off for the 3rd round tie with Man City and make us real fans look like mongs. I could imagine it would have been you who had the Clough 2 Jose 0 banner on european cup wins, As you really are that thick you didn't realise that Jose won one at Porto.... I could say all that shiite and get personal but I won't so you cut it out eh?? Theres a good lad :)”

  • Profile image for This is Nottingham

    by Joe Baker, Zigger Zagger

    Saturday, December 13 2008, 7:17PM

    “I'm fed up of all this spin from ND and his so called Financial director John Pelling, ND has NOT put in £6.6m into the club out of his own pocket last season, he has lent the club £6.6m at interest rates way and above the4 BOE BR. Will you stop treating the fans like idiots thinking you can spin your way through everything, and while I'm having a rant Ryland Morgans so called Fitness coach, you can pack your bags ang P**s off too after explaing why so many of our players injure themselves in training”

  • Profile image for This is Nottingham

    by kirk, Nottm

    Saturday, December 13 2008, 7:13PM

    “Chris what has this guy acheived in ten years? Come on after ten years and 45m of his own money spent what have we had to cheer about? A prmotion from league1? The place this dud sent us to for 3 years and is sending us back to...... Giving us useless manager after manager, Giving us the useless CEO of Mark Arthur, The same Mark Arthur who nearly banckrupt nottingham county cricket club. Open your eyes man, we will get rid of Calderwood and he will employ another useless manager who will have to put up with the same restraints that our other managers have had to put up with.

    We need fundamental change at our club. That means getting rid of our lead weight of an owner..... otherwise we will be on the merrygoround again....”

  • Profile image for This is Nottingham

    by Maddog, mansfield

    Saturday, December 13 2008, 6:31PM

    “Terry, I hope you can add up.”

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