Club fail in Trent End debt repayment.


By Michael Lynch
June 30 2004

Nottingham Forest have failed to re-pay the loan which they took out in order to obtain necessary finances for the redevelopment of The City Ground's Trent End. The club have failed to meet the lastest £200,000 interest payment.

Debts not paid

Wednesday 22nd June 2004

Nottingham Forest have failed to re-pay the £4.5m debt took out in order to pay for the redevelopment of The City Ground- and The City Council have stated that they can still force the club to sell this section of their ground.

The £200,000 interest payment that the board were due to make has not been paid.

Council leader John Commons assured the community that this would not change anything about the services the council run:: "I can give an absolute assurance there will be no impact on the current year's budget and no impact to services to people in the city.

He added: "The point at which we have to make a payment is the point we go to court to recover the £4.6m from Nottingham Forest and also to recover the lease."

©ForestFC.co.uk, 2004

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