Exclusive: Nottingham Forest set new ‘£30m target’ as Evangelos Marinakis dreams of 50,000-seater City Ground
Nottingham Forest’s City Ground Expansion Gets First Green Light – But Evangelos Marinakis Has Bigger Ambitions
Nottingham Forest have taken their first concrete step toward expanding the iconic City Ground, with the local council officially approving the initial phase of the redevelopment project. However, this is just the beginning of what owner Evangelos Marinakis envisions as a much more transformative journey for both the stadium and the club.
Marinakis, the Greek shipping magnate who took over Forest in 2017, has pledged an ambitious £130 million investment to modernize and expand the stadium. The first phase of this development involves a significant upgrade to the Peter Taylor Stand, increasing the ground’s overall capacity by 5,000 seats, bringing it closer to 35,000. But his ultimate dream goes far beyond just a moderate expansion.
Why Now? Delay, Approval, and What Comes Next
The redevelopment plans had been temporarily paused earlier this summer to accommodate international fixtures—specifically, England’s friendly against Senegal—but now that planning permission has been granted, the club can begin preparing for construction. Even so, hurdles remain in the form of final regulatory checks, infrastructure planning, and financial logistics before building can begin in earnest.
Despite these challenges, Marinakis appears resolute. His long-term strategy revolves not just around increasing capacity, but unlocking substantial commercial potential.
The Financial Upside of the Peter Taylor Stand Redevelopment
According to football finance expert Adam Williams, the modest-seeming 5,000-seat expansion will have an outsized impact on Forest’s financial profile—especially when it comes to matchday revenues and commercial opportunities.
> “On the surface, it might just look like a 5,000-seat bump,” Williams explained, “but in terms of income generation, it’s potentially game-changing.”
Currently, Forest’s matchday income stands at around £14.4 million for the 2023–24 season. If the increase in seating capacity is calculated on a straight-line basis, that figure could rise to just under £17 million. However, Williams insists the real potential lies beyond basic arithmetic.
> “We’re expecting a significant increase in premium seating, hospitality services, and VIP experiences. Those offer much higher margins than regular ticket sales,” he said. “By the time the new stand is fully operational, I wouldn’t be surprised if the club is targeting an annual matchday income closer to £30 million.”
In addition to boosting game-day income, the City Ground’s expansion plans include residential and mixed-use developments that could serve as long-term revenue generators. These aspects, although harder to quantify upfront, align with modern stadium redevelopment models designed to maximize utility year-round, rather than only during matchdays.
> “Real estate has become a cornerstone of stadium planning. With apartments, retail spaces, or event hosting venues integrated, the stadium can be monetized 365 days a year,” Williams added.
From 35,000 to 50,000: The Bigger Picture
Marinakis’ ultimate vision doesn’t end with a 5,000-seat expansion. The Greek billionaire has long spoken about transforming the City Ground into a 50,000-capacity venue, capable of hosting not just Premier League matches but potentially major international fixtures, concerts, and cultural events.
Realizing that dream, however, presents a completely different set of challenges.
> “The financial and logistical requirements for expanding to 50,000 seats are significantly greater,” Williams cautioned. “While the first phase only required about £1.2 million in council-related infrastructure contributions, future stages will require substantial investments in transport links, public access points, and urban planning solutions.”
According to Williams, the cost of reaching 50,000 could easily surpass eight figures just in ancillary costs like roads, rail connections, and amenities. Forest would likely need additional financial backers or sponsorship agreements to push that plan forward.
Still, Marinakis is not a man to be deterred by complexity. Sources close to the club say he is determined to leave a legacy—one that restores Nottingham Forest not just to English football prominence, but also to a level of global recognition.
Forest Fans Embrace the Vision
Among the Claret and White faithful, enthusiasm is steadily building. Many fans have long believed that the club’s historic stature and passionate following have outgrown the current stadium configuration. An upgraded, modern City Ground could elevate the matchday experience and serve as a potent symbol of Forest’s ambition to compete with the Premier League’s elite.
More importantly, an expanded stadium may also attract higher-calibre players, increased media attention, and new commercial partnerships—all crucial for maintaining top-flight status in today’s hyper-competitive football landscape.