Brennan Johnson transfer details revealed as Nottingham Forest take out loan

Nottingham Forest have taken out a loan in relation to the £32.5million instalments due from Tottenham Hotspur for the transfer of Brennan Johnson, according to a Companies House filing.

On deadline day in the summer, the Nigel Doughty Academy graduate left the Reds for the Spurs. Johnson’s 14-year association with his boyhood club came to an end with the £47.5m deal.

Tottenham is owed £32.5 million over the next three years, according to a filing on Companies House. Forest has taken out a loan with Macquarie Bank to raise funds, and Spurs will pay the bank when the payments are due.

“It is quite common with large transfers these days,” football finance expert Kieran Maguire explained on X (formerly Twitter). Spurs owe Forest £32.5 million in IOUs over the next three years. Macquarie makes a (say) £27 million offer to Forest now and collects money from Spurs on the due dates. Macquarie earns an effective interest fee, which benefits Forest’s cash flow.”

According to the document on Companies House, Tottenham will pay £10m on August 31, 2024, followed by £10m on August 31, 2025, and £12.5m on August 31, 2026. Even if Johnson leaves Spurs within the next three years, the payments are due on “the payment dates set out.”


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“Brennan epitomises all that is great about football,” Forest owner Evangelos Marinakis said in an open letter to supporters following Johnson’s move to the capital. A young boy playing for his local team, fulfilling his dreams and developing not only as a footballer, but as a person.

“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 playing a key role in us retaining that status on the final home game of last season.” By joining Tottenham Hotspur, he has also given his boyhood club the financial means to reinvest and grow.

We appreciate him being a part of our family and sharing so much of himself with us. Brennan, be strong and healthy, and we wish you the best of luck.”

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