Following his appointment earlier this week, Nicholas Randall, the new chairman of Nottingham Forest, has one significant task ahead of him.
Just 13 months after Tom Cartledge took over as chairman of the City Ground, Randall is taking on his second term in that role.
Cartledge is leaving his position to concentrate on his family’s business, Benoy Design, which has been closely involved in helping Forest with their stadium ambitions.
Benoy and Cartledge had been central to the proposal to build a new stadium to replace the City Group in Toton. He will remain on the board of directors.
Like Cartledge, Randall also remained on the board at Forest following Evangelos Marinakis’s decision to remove him from his post in August last year.
Forest have enjoyed a steady start to the season under Nuno Espirito Santo, taking nine points from their opening six fixtures
However, although on-field accomplishments will take precedence in the near future, Randall will be in charge of a mission behind the scenes that will have an impact on NG2 for many years to come.
The estimated cost of Nottingham Forest’s proposed stadium renovation
For a considerable amount of time, Forest has desired to meet the high demand for tickets from their fans.
The City Ground’s value to fans goes well beyond its financial utility, but it is one of the least lucrative stadiums in the Premier League in terms of the cash it generates per head.
Forest earned £11.1m in matchday income in 2022-23, their first campaign back in the top flight for over two decades and the last for which full financial data is available.
That figure will have risen in 2023-24, reflecting increased ticket prices.
This pattern is expected to continue in 2024–2025, when the team is expected to make a lot of money despite receiving harsh criticism from supporters for yet another set of exorbitant ticket prices.
In July, Forest reached an agreement to purchase the freehold of the City Ground in order to expedite the stadium’s expansion plans.
Forest has stated that they intend to increase the City Ground’s capacity from about 30,000 to 42,000.
However, Marinakis stated in a recent interview that the long-term goal is to surpass that number and reach 50,000.
I’m confident a 50,000-seat stadium will be packed seeing our squad and our passion. We have a lot of supporters and a long waiting list for season tickets,” he told BBC Sport.
“The team belongs there [the City Ground], that’s where the tradition is.”
“Having one of the best stadiums in England in the coming years is something I want to be able to finalize and is very important for the town of Nottingham.”
“At this time, this is my main objective.”
That ability would guarantee them £18.4 million every season, bringing them equal with teams like Aston Villa, Southampton, and Wolves based on their matchday revenue in 2022–2023.
The true number, however, would actually be much higher. That imprecise assessment not only ignores the City Ground’s new pricing structure, but it also ignores business prospects.
The expansion is anticipated to concentrate on corporate hospitality and generate more sponsorship opportunities, which, according to industry estimates, may raise the project’s overall annual worth to about £40 million.