Nottingham Forest owner, Evangelos Marinakis, has written off £11m of club debt by turning loans into shares for the financial year 2022/23.
The move forms part of the club’s financial process for its 2022/23 accounts. Details of the arrangement have been submitted to Companies House.
It is the fourth consecutive year in which Marinakis has converted club debt into equity. In the 2021/22 financial year, the owner converted £41m worth of loans into shares. This follows a similar conversion of £12m in 2020/21 and over £20m in 2019/20.
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