Nigel Doughty's will is crucial to Nottingham Forest's future, says expert
THE future of Nottingham Forest is likely to be dictated by the contents of Nigel Doughty's will, according to a sports lawyer.
Simon Boyes, a lecturer at Nottingham Trent University's Law School, believes it is likely Mr Doughty would have stipulated in his will what should happen if he died.
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Forest fan Steve Baytey, of Daybrook, signs the book of condolence in the Nottingham Forest Trophy room. The book will be available for the rest of the week.
Mr Doughty, who owned Forest, was found dead in the gym of his Lincolnshire home on Saturday, aged 54.
He had invested more than £75 million in the club he loved.
Mr Boyes said: "This is the same situation as with any other property. Forest is a limited company and the transfer of that property depends on Mr Doughty's will.
"There is a board of directors at the club, which should be able to ensure the club ticks over in the near future.
"But what happens beyond that will depend on the will. But Mr Doughty was a knowledgeable businessman and I'm sure he would have had something in place.
"It is inconceivable that he didn't."
Mr Boyes said both Chelsea director and financial backer Matthew Harding and Blackburn Rovers owner Jack Walker had plans in place which allowed the sides to continue after their untimely deaths.
"They left provisions for their clubs which meant they could carry on," said Mr Boyes.
Mr Boyes said he was uncertain what would happen to the £75 million Forest were due to repay Mr Doughty by 2014.
"This will depend on who has ownership according to the will," he said.
"It is an uncertain time facing the club and the fans will want to know what is going to happen. But I'm confident there will be something in place."
Former supporters' club chairman Paul Ellis said: "We don't know what is in the will. There could be something saying the money shouldn't be collected straight away.
"But if nothing is mentioned and the person who takes ownership does want that money, then I can't see how the club can pay it back."
An inquest into Mr Doughty's death is set to open in Lincoln at 1pm today.
Meanwhile, Forest have opened a book of condolence and many supporters have already signed it.
It is available at the City Ground between 9.30am and 4.30pm throughout this week.
The club has also confirmed it will hold a minute's applause for Mr Doughty before Saturday's game against Watford, while the players will wear black armbands.
Tributes have flooded in since the news of Mr Doughty's death; Notts County put aside all rivalries to laud his impact on the game.
A club spokesman said: "We were deeply saddened to learn over the weekend of the tragic passing of Nottingham Forest owner Nigel Doughty.
"As an active member of the local community, Nigel Doughty contributed a great deal to the rich sporting culture of Nottingham and the surrounding area and he will be greatly missed by all that knew him and who benefited from his generosity and support.
"The club would like to pass on our sincere condolences to Mr Doughty's family and friends at this difficult time."
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by melgarion
Wednesday, February 08 2012, 10:49PM
“Like Mr Boyes says, it's highly doubtful Nigel didn't have proper plans in place in this unlikely event coming to pass. There may even have been a substantial "key man" life insurance policy in place for the club to be able to buy out the beneficiary of the club's ownership under the terms of his will.”
by justmyself
Wednesday, February 08 2012, 10:03PM
“metrocab, there are good and bad in all walks of life and that includes venture capitalists.
you, you kermit you! lol”
by Metrocab21
Wednesday, February 08 2012, 7:53PM
“Red Mike,Thank you
I Believe the AA and NCP are both owned by venture capatilist`s,wouldnt call them high risk ! Both got rid of staff and increased prices.
Gee Red/Justmyself, for your info i was once employed by a company that was taken over by venture capitalst`s,so i know what i am talking about.
Muppets!”
by Vox_Populii
Wednesday, February 08 2012, 6:29PM
“At the end of the day, when all's said and done, the club needs 2000% effort. If they do that until the cow's come home, then it'll be beers all rounds for the lads on the pitch.”
by GeeRed
Wednesday, February 08 2012, 5:30PM
“Metrocab21
You should be ashamed of your own stupidity & certainly your lack of knowledge.
Venture capitalist's identify good business opportunities, generally companies that are underinvested, poorly run or in need of specialist management.
They then invest and / or acquire the business, invest and turn that business into a sound & profitable one, before continuing to manage them for many years and / or selling them on for a profit.
In Nigel Doughty's case (& his company Doughty Hanson) he was proven over many years to be an extremely astute & successful business man. This is where his personal fortune came from.
The accusation of asset stripping is extremely derogatory and your comments on this page defamatory.
A venture capitalist invests and adds value to a business opportunity.
An asset stripper does neither buying a business for less that its asset value & then selling the component parts (which happens to be illegal in most modern countries!)
Shame on you!”
by Paulderby
Wednesday, February 08 2012, 2:40PM
“there are lots of different VC's most people remember the little Chief and the Rover group but there are loads of deals which are very successful and return the business to the market in good condition -Debenhams being one example
plus while little chief was a mess the product was pre mac Donald's etc and was out dated so would have died anyway
As for the will it may have a clause stating full support but as that would leave his widow and children with only £30M of his £130M fortune the other £100M going to Forest it would be unusual
time will tell but I expect she wont want to pay out another £25M for no return”
by Red_Mike
Wednesday, February 08 2012, 1:59PM
“justmyself - you are part correct. They typically buy business that have potential but require a turnaround strategy, or basically financial investment. They will then grow and sell for a high profit the good bits of the business and then dump the bad parts/ones they cannot grow, so in part metrocab you are more right then justmyself. Just ask the employees of Little Thief (Chef) etc... more assests get stripped to try and return a business to a profitable sale.”
by JamesOJK
Wednesday, February 08 2012, 1:42PM
“Thank goodness we have one of Nottingham Trent University's finest lawyers to point out that the future of the club will be determined by the deceased owner's will. I thought it was going to Harry Redknapp's dog.”
by justmyself
Wednesday, February 08 2012, 1:19PM
“METROCAB, get your facts right, venture capitalists are not asset strippers at all!!
Basically speaking for your small brain, they buy high risk business, turn their fortunes around then re-sell the business for a profit.”
by Metrocab21
Wednesday, February 08 2012, 12:11PM
“Sorry but venture capitalist`s are asset strippers!”