'They have to be careful' - Finance expert fires warning to Nottingham Forest against limited revenue
Below is a summary of the full article. Click here for the full version or go back to LFC Live.net.
Credit: Hasan Karim - Breaking Media / Getty Images
Ben Palmer
Thu 28 August 2025 17:19, UK
Nottingham Forest will make more signings before the transfer window closes but they must be careful with their finances.
That is according to football finance expert Dan Plumley, who told Football Insider exclusively that the previous “PSR gamble” that saw the Tricky Trees hit with a points deduction in the 2022/23 season meant that they still needed to be careful in the transfer market.
Nuno Espirito Santo‘s side has spent upwards of £150million [transfermarkt] on new signings this summer, with the majority of the arrivals coming after the manager criticised the club’s lack of urgency in the transfer window.
Omari Hutchinson was signed from Ipswich, whilst James McAtee joined Nottingham Forest from Man City, and Dan Ndoye arrived from Bologna.
The Midlands side finds themselves at what could be a pivotal moment in their history.
Forest have qualified for European football for the first time since the 1980s and are in the process of upgrading the City Ground, with both adding revenue to the club’s coffers.
However, they will still need to tread carefully in order to remain compliant with the Premier League‘s profit and sustainability rules (PSR).
(Credit Imago)
MORE FOOTBALL INSIDER STORIES
This article contains exclusive comment from Dan Plumley, a football finance expert and senior lecturer at Sheffield Hallam University.
The Tricky Trees may have come close to qualifying for the Champions League last season, but Plumley told Football Insider that it was important they do not overstretch their financial reach this summer.
The finance expert expects one or two more players to join in the current window, but does not expect Santo’s side to spend “crazy money”.
(Credit Imago)
Plumley explained: “With what’s happened before with the PSR gamble, and with where the finances are at, they have to be careful.
They’re not generating huge commercial deals; they’re in and around that mid-table group of Premier League clubs for that kind of money.
“There is a limit to what they can do, so I wouldn’t expect them to spend crazy money, but I think one or two more coming in off the back of being in the Europa League now is likely, for sure.”
Plumley predicts that one or two more players will move to the City Ground this summer, and one of those could be a former player.
Aston Villa are prepared to accept an offer for Matty Cash, Mick Brown told Football Insider exclusively.
(Credit Imago)
The Poland international departed Forest in 2020 for Villa Park, and has made 184 appearances for Unai Emery’s side.
But with Ola Aina as the only natural right-back in the squad, Forest have shown an interest in bringing Cash back to Nottingham.