After losing four points for violating financial regulations the previous season, Super Eagles duo Ola Aina and Taiwo Awoniyi’s Nottingham Forest were sent into the Premier League relegation zone on Monday.
With 21 points, one fewer than Luton Town and four ahead of 19th-place Burnley, Forest was in 18th position in the rankings following the league’s announcement of the deduction.
Champions of Europe in 1979 and 1980, Forest, have seven days to challenge the ruling.
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Following a two-day hearing, the Premier League stated an independent commission has applied the instant deduction “for a breach of the Premier League’s Profitability and Sustainability Rules (PSR) for the period ending Season 2022/23.”
According to the statement, Forest acknowledged that he had gone above the barrier by 34.5 million pounds, or 61 million pounds ($77.6 million).
Forest expressed their deep disappointment with the decision in a statement.
Following a two-day hearing, the Premier League stated an independent commission has applied the instant deduction “for a breach of the Premier League’s Profitability and Sustainability Rules (PSR) for the period ending Season 2022/23.”
According to the statement, Forest acknowledged that he had gone above the barrier by 34.5 million pounds, or 61 million pounds ($77.6 million).
Forest expressed their deep disappointment with the decision in a statement.
“After months of engagement with the Premier League, and exceptional cooperation throughout, this was unexpected and has harmed the trust and confidence we had in the Premier League,” the Midlands club said.
“We believe that the high levels of cooperation the Club has shown during this process, and which are confirmed and recorded in the Commission’s decision, were not reciprocated by the Premier League.”
Premier League teams are permitted to lose 105 million pounds over the course of three seasons; however, because Forest played in the Championship for two of those years, their maximum loss was limited to 61 million pounds.
In order to level the playing field and stop wealthy ownership groups from spending enormous sums of money on players, PSR was implemented in 2013.
Greek entrepreneur Evangelos Marinakis, who also owns Greek team Olympiakos, assumed control of Forest in 2017 as chairman of the shipping company Capital Maritime.
Following their promotion in May 2022, Forest broke the record for the most moves (21), made by a Premier League club during the off-season.
The team, which was accused in January of last year, exhibited ‘extraordinary cooperation’ in their interactions with the Premier League, according to the league.
Forest is the second Premier League team this year to lose points due to financial irregularities; Everton lost 10 points in November until their punishment was lowered to six this month after an appeal.
Everton is now awaiting word on a possible second penalty pertaining to 2022–2023.