Nottingham Forest transfer gamble as Reds' summer spending spree hits £70m

This time last year, not many Nottingham Forest fans would have dreamt to be in their current position, having already smashed their transfer record and attracted some big name Premier League stars.

The Reds produced one of the most remarkable turnarounds in Championship history as they climbed from rock bottom to the play-offs after Steve Cooper took the reins from Chris Hughton. After scraping past Sheffield United, Forest finally marked their return to the top-flight for the first time in 23 years by beating Huddersfield in the final on what was a memorable day at Wembley.

However, The Reds have since lost almost half of their starting XI from that game, with the likes of Djed Spence, James Garner, Keinan Davis and Philip Zinckernagel returning to their parent clubs. Meanwhile, Max Lowe, Tobias Figueiredo, Ethan Horvath, Gaetan Bong, Lewis Grabban and Brice Samba have also departed The City Ground.

This left Forest no choice but to spend big and strengthen their squad ready for the 2022/23 season. Chairman Evangelos Marinakis promised Cooper that he would back him in the transfer market and he has done just that, with The Reds spending more than £70million so far.

It took The Reds until the end of June to announce their first summer signing, however, when Taiwo Awoniyi joined in a record breaking £18.5m deal from Union Berlin, having scored 25 goals in all competitions last season. That was the first of a number of quick-fire additions as Cooper began to rebuild his new-look squad.

Dean Henderson arrived on a season-long loan deal from Manchester United, while Giulian Biancone, Moussa Niakhaté, Omar Richards and Neco Williams have all made the switch to The Reds for a combined £44m. Wayne Hennessey joined from Burnley on a free transfer to provide back-up for Henderson, before Forest completed the double swoop of Lewis O'Brien and Harry Toffolo from Huddersfield.

Arguably the most contentious signing came when Jesse Lingard chose to join Forest amid interest from West Ham United and Newcastle United. The 29-year-old left the Red Devils at the end of his contract last month and was free to find another club as he looks to try and force his way into the England squad for the World Cup.

Becoming a free agent, there was a chase for his services but Forest ended up being the surprise victors. Lingard was confirmed to have penned a lucrative one-year deal at the City Ground with some reports even claiming that he was set to be paid up to £150,000 per week by the East Midlands side.

It was a move that received mixed reaction on social media, with some doubting Lingard's ambition by going to a newly-promoted side rather than European-chasing West Ham, while others praised the midfielder for going to a team where he is no doubt guaranteed game time. Glen Johnson, meanwhile, claimed that Lingard will '100% regret signing' for Forest and Tony Cottee expressed his disappointment with his decision.

All that criticism is no doubt going to fire Lingard up to impress and prove the doubters wrong. But, for Forest, it is a signing that makes sense - a play with plenty of top-flight experience and someone with a point to prove. He has made over 150 Premier League appearances over the course of his career and had a highly successful six-month loan spell at the Hammers in 2021, where he netted nine goals in 16 games.

If Lingard can replicate that kind of form over a season for Forest, then there is no doubt the club will reap the rewards despite his hefty wage as they look to stay in the division. Lewis Grabban was The Reds' highest earner on £25,000 per-week last season - far less than what Lingard is on and Forest have gambled in that sense. Whether it will work out is a completely different question.

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Fulham and Aston Villa are examples of newly-promoted teams to spend heavy in recent years. The former, however, failed in their attempts to stay up after spending over £100m during the 2018 summer window. Jean Michael-Seri, Frank Zambo-Anguissa, Aleksandar Mitrović, Alfie Mawson, Maxime Le Marchand and Andre Schurrle were amongst the 12 new players to join the Cottagers.

They finished 19th in the end, with only Huddersfield faring worse. One of the teams that replaced Fulham in the Premier League was Villa, who like Forest, lost a number of loan players and those out of contract.

Wesley, Tyrone Mings, Douglas Luiz, Matt Targett, Ezri Konsa, Marvelous Nakamba, Bjorn Engels, Anwar El Ghazi, Tom Heaton and Trezeguet all joined for a combined fee of £102m. And Villa were destined for the drop until the final couple of matches, where they managed to survive thanks to a 1-1 draw at West Ham on the final day.

Although spending big has not always worked, the ambition shown by Forest should be applauded, especially by the people who criticised Norwich City for not being ambitious enough last summer. The Reds' summer business is not over yet either, with William Carvalho, Orel Mangala and Maxwell Cornet amongst those linked.

Meanwhile, fellow promoted side Bournemouth are yet to spend a penny, with Joe Rothwell and Ryan Fredericks the only two players to arrive. Although the Cherries have a relatively bloated squad, Forest seem to have a stronger squad on paper - having brought in ready-made Premier League stars.

Forest's first game back in the Premier League is on August 6 when they travel to Newcastle United, before facing West Ham at The City Ground a week later. It is poised to be an exciting season at The Reds, and they should no doubt be praised for having a go despite the risks that signing players on big wages for high fees has.