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Nottingham Forest has officially appealed against the four points deduction imposed on them for breaking Premier League profit and sustainability rules.
An independent commission found that Forest’s financial losses for the 2022-23 season exceeded the £61 million threshold by £34.5 million.
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This deduction has pushed Forest into the relegation zone, placing them in 18th position, just one point behind Luton Town. Forest stated in a released statement that they would not provide any further comments on the matter.
They are the second team in the top-flight league to face penalties for breaching PSR regulations, following Everton’s 10-point deduction in November, which was later reduced to six points after an appeal.
Last week, Forest expressed their disappointment with the decision, stating that it raised concerns for all aspiring clubs. According to Premier League regulations, clubs can incur losses of up to £105 million over three seasons, with a limit of £35 million per season.
However, due to spending two seasons in the Championship during the assessment period, Forest’s maximum allowable loss was capped at £61 million. Initially facing a six-point deduction, three points for the breach, and an additional three points for the size of the breach, Forest’s cooperation and early plea led to a reduction to four points.
The league’s rules stipulate that any appeals process should be concluded no later than May 24th, just five days after the end of the season. Nottingham Forest, who were charged in January, earned promotion from the second tier in 2022 and proceeded to make significant signings, bringing in a record-breaking 22 new players along with five loan acquisitions.
Their net spending on transfers for the 2022-23 season amounted to £142.8 million. Forest incurred losses of £3 million on average across 2020 and 2021, followed by £40 million in 2022 and £52 million in 2023, totaling £95 million.
