Nottingham Forest vs Manchester City finances: revenue, debt, wages, grade

Nottingham Forest vs Manchester City: the money gapNott'm Forest v Man City. Meet on Saturday 7 November 2026 in the Premier League (Nott'm Forest at home). This page is about the money gap, not the result. Cited figures from each club's grade card. No predictions.Nottingham Forest: grade C (56.7/100)

Revenue: Earned £222.0m in 2024-25: above the middle in the Premier League (ahead of 58% of the league's other clubs we track). Score 72/100. Source: The Swiss Ramble — Nottingham Forest Finances 2024/25 (club accounts), 2024-25, reported

Net debt: Net debt of £85.6m equals about 38% of a year's revenue: light. Score 61/100. Source: Nottingham Forest Football Club Limited — accounts YE 30 June 2025 (Companies House 01630402), note 31 Analysis of changes in net debt, 2025-06-30, reported

Wages: First-team pay of about £67.2m takes roughly 30% of revenue: heavy (player pay only, not all staff). Score 54/100. Source: Capology via FBref / Planet Football, as of 2025-08, estimated

3-season net transfer spend: Net transfer spend averaged about 23% of revenue a season over 3 seasons: aggressive. Score 39/100. Source: Transfermarkt net spend 2023-24 €48.8m, 2024-25 €18.8m, 2025-26 €111.4m, reported

Manchester City: grade B (74.2/100)

Revenue: Earned €829.3m in 2024-25: one of the biggest earners in the Premier League (ahead of 95% of the league's other clubs we track). Score 96/100. Source: Deloitte Football Money League 2026 (2024/25 football operations), 2024-25, reported

Net debt: Net cash of £2.0m: more cash than borrowings (financial debt only; transfer fees owed are not counted). Score 100/100. Source: Greg Cordell analysis of Manchester City Football Club Limited accounts YE 30 Jun 2025 — net financial debt, 2025-06-30, reported

Wages: First-team pay of about £230.5m takes roughly 32% of revenue: heavy (player pay only, not all staff). Score 48/100. Source: Capology via FBref / Planet Football, as of 2025-08, estimated

3-season net transfer spend: Net transfer spend averaged about 17% of revenue a season over 3 seasons: busy. Score 53/100. Source: Transfermarkt net spend 2023-24 €120.8m, 2024-25 €101.3m, 2025-26 €194.5m, reported

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