As announced by Nottingham ForestThe Vangelis Marinakis proceeded with a share capital increase of 11 million pounds (12.8 million euros), converting loans of this amount into equity for the financial year 2022/23.
In fact, it is the fourth year in a row that something like this has happened. In the financial year 2021/22, the owner of the English team and his Olympiakou converted value loans 41 million pounds in shares. A similar conversion followed 12 million pounds in 2020/21 and above 20 million pounds in 2019/20.
The announcement in detail:
“Nottingham Forest owner Vangelis Marinakis has made a further financial commitment to the club by converting £11 million worth of loans into shares for the 2022/23 financial year.
The additional financial commitment from the owner further alleviates the club’s financial burden and underlines Vangelis Marinakis’ continued commitment to the club’s success.
The move forms part of the club’s financial process for the 2022/23 accounts. Details of the deal have been lodged with Companies House.
It is the fourth year in a row that Evangelos Marinakis has converted the club’s debt into equity. In the 2021/22 financial year, the owner converted £41m worth of loans into shares. This follows a similar turnover of £12m in 2020/21 and over £20m in 2019/20.”
Nottingham Forest owner Evangelos Marinakis has made a further financial commitment to the Club with the conversion of £11m worth of loans into shares for the financial year 2022/23.
— Nottingham Forest (@NFFC) December 15, 2023
Source: Sport Fm
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