Soccer: Doughty prepared to invest €8.1m

Millionaire businessman Nigel Doughty yesterday revealed plans to invest another £5m (€8.1m) into Nottingham Forest at the club’s extraordinary general meeting.

Doughty has offered to make the investment in return for a share issue which would effectively increase his holding in the First Division club to 85%.

He denied claims he would be ‘getting the club on the cheap’, having already put £6million in with the guarantee of another £6m (€9.7m).

His new £5m (€8.1m) offer, which would see him take over from Eric Barnes as chairman at the City Ground, will be considered by Forest’s plc board.

Although the investment is expected to be welcomed, Doughty has warned supporters the extra money will not be used as transfer funds.

He said: ‘‘I am sure some people think I am a little mad, but Nottingham Forest has been my passion for 35 years. My offer is a decision I have made because I enjoy what I am doing.

‘‘I fully realise the problems the club has. It is not easy financing football in the Nationwide First Division - in fact it is very tough.

‘‘Even if the club accepts my offer there will still be a need to generate funds from transfer activity. That is a fact of life.’’