Nottingham Forest owner Fawaz Al Hasawi has confirmed that the transfer embargo placed upon them by the Football League is set to be lifted. The Kuwaiti businessman has always maintained that this would be the case and he has confirmed the news on his Twitter account.
Although they won’t be under the embargo over the summer and beyond, there is still the neat to ‘behave’ in their transfer dealings to avoid returning back to square one.
Good news – the Football League has confirmed the transfer embargo will be lifted. #nffc
— @FAWAZ_ALHASAWI (@fawaz_alhasawi1) May 6, 2016
The City Ground club will need to ensure that they do not make losses of more than £13million for this season for the embargo to be officially lifted.
This would allow the club to make a move within the transfer market and enjoy more freedom in that area. They have been restricted as to the type of deals that have been able to make in recent times, with mostly loan moves and free transfers being their realistic chance of signing players.
Financial Fair Play rules change next season, saying that Championship clubs are allowed to make losses of up to £13million in a season, but cannot exceed £39million over three seasons. Should Forest’s losses by close to £13million this season, then including past figures as well, they may only be allowed to record losses of £5million next season. Otherwise they would fall foul of FFP rulings once again.
The club are openly encouraging investment from the outside to help with their financies. Olympiakos owner Evangelos Marinakis is said to be considering such a move.
Nevertheless, with a new manager to be appointed this summer, this news is certainly a step back in the right direction without them being completely out of the woods just yet.