Nottingham Forest are ‘in dialogue’ with their principal shirt sponsors Football Index after their dramatic collapse last week, according to the Daily Mail.
The virtual stock market website sponsor both Forest and Queens Park Rangers in the Championship, but many investors were left furious when the company released a statement which basically left people’s purchases worthless.
It’s led to a furious response on social media from investors who will now not see any of their money back – some claiming to lose their life savings – with Football Index themselves looking like they are financially unstable.
That could lead to big ramifications at Forest as well – they described Football Index’s partnership in 2019 as the ‘biggest shirt sponsorship deal in the club’s history’ – so naturally there will be financial concerns from the club’s side.
It could lead to Forest chiefs seeking new sponsorship deals for the start of next season as Football Index’s future looks very uncertain, and it comes at a time where Forest themselves have posted some interesting finance news – with the latest accounts showing that the club posted a loss of £32 million last season.
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It’s not Forest’s fault that Football Index has crashed, but it sure doesn’t look good for them considering they are partners.
Football Index have had to make those changes to make sure they stay in business, so you’d have to guess it won’t be viable for them to sponsor a football club going into the start of the 2021/22 campaign – let alone two teams.
The size of the club that Forest are though, especially for the Championship, means that they’ll surely secure another deal pretty easily and at this point that looks to be the likeliest option with Football Index’s future being uncertain.