Forest owner wipes out another £72m of debt

Evangelos Marinakis

Nottingham Forest owner, Evangelos Marinakis, has written off even more cash the club owes him by acquiring a whopping 7.2 billion shares.

The move means that Marinakis has wiped another £72m of loans Forest owes to him by converting it into equity.

Earlier this month (January), the Greek magnate has converted an £82m loan to Forest into 8.2 billion 1p shares.

This is the latest in a series of financial moves from Marinakis over recent times. Over the last five years, he has converted over £230m owed to him into shares.

Forest could go within three points of the top of the Premier League this evening (Janury 14) when they play table-toppers Liverpool at the City Ground in one of the club’s biggest games since they returned to the top tier three seasons ago.

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