Latest Nottingham Forest news as details of Brennan Johnson move to Tottenham Hotspur emerge in Companies House filin

In order to cover the £32.5 million in installments that Tottenham Hotspur owed Nottingham Forest for the transfer of Brennan Johnson, the Forest took out a loan.

On summer’s deadline day, the Nigel Doughty Academy graduate joined the Spurs and left the Reds. Johnson’s 14-year affiliation with his boyhood club came to an end with the £47.5 million deal.

Tottenham is owed £32.5 million over the next three years, according to a document on Companies House that details when future installments of the fee are due. In order to raise money, Forest has taken out a loan with Macquarie Bank, which requires Spurs to pay the bank when the installments are due.

On X (previously Twitter), football finance specialist Kieran Maguire clarified, saying, “It is quite common with large transfers these days.” Spurs owe Forest £32.5 million in IOUs over the following three years. Macquarie takes money from Spurs on the due dates and offers Forest, say, £27 million immediately. Good for Macquarie’s effective interest fee and Forest’s cash flow.

According to a Companies House document, Tottenham is owed £10 million on August 31, 2024; £10 million on August 31, 2025; and £12.5 million on August 31, 2026. Even if Johnson leaves the Spurs within the next three years, the installments are still due on “the payment dates set out.”

After Johnson’s move to the capital, Forest owner Evangelos Marinakis said in an open letter to supporers: “Brennan epitomises all that is great about football. A young boy playing for his local team, fulfilling his dreams and growing not just as a footballer, but as a human being.

“He is the ultimate young professional and his contributions to the club he loves have been enormous – helping us achieve promotion back to the Premier League and instrumental in helping us retain that status on the final home game of last season. In moving to Tottenham Hotspur he has also provided his boyhood club with the financial means to reinvest and continue to grow. We thank him for being part of our family and giving so much of himself to us. Go well, Brennan, be strong and healthy and we wish you every success.”