Nottingham Forest fans are rejoicing today as it’s announced that their team has won £250,000 in transfer budget from Sky Bet as part of their Transfer Fund competition. The shortlist was pulled randomly from all the bets placed by fans of teams in the Football League when they bet on a game featuring their team. From there, Sky Bet pulled 10 tickets at random. The list, which also included Fulham, Cardiff, Leeds, Watford, Wigan, Huddersfield, Exeter and Southend, was then drawn once more to determine which side would receive the transfer money. The odds on favourite for the draw was in fact Leeds United, who had two tickets pulled in the initial draw, this giving them a 1/5 chance of taking home the transfer money. Luck wasn’t in Leeds’ favour though, as Nottingham Forest took home the transfer fund for the January window.
Confusion has arisen, however, regarding the use of this money. Nottingham Forest, alongside Leeds and Blackburn have been hit with a transfer embargo by the Football League. This is in punishment for making losses of greater than £3 million during the 2013 season and means that none of the clubs are allowed to pay any fees to clubs for loans or transfers. That goes directly against the nature of the Sky Bet Transfer Fund, and many were wondering what the clubs would do if they were awarded the money.
As it turns out, the Football League (who are heavily sponsored by Sky Bet, we should note) are allowing the quarter of a million pound investment to be spent on players wages, leaving open the opportunity to bring in free agents or loan deals where the club do not demand a fee for the deal to take place. That news will help Nottingham Forest breathe a sigh of relief, as that money won’t have to go to waste.
Nottingham Forest are currently 9th in the Championship, though given the incredibly competitive nature of the league they’re only nine points away from the top of the league and the same number of points away from the bottom. As such, the transfer fund could do wonders for their season and help catapult them towards the play off places.
Sky will be extremely happy with the response they received with their Transfer Fund initiative, and following many positive calls to the Sky help contact number have decided to relaunch the Transfer Bet and are now accepting bets which will give teams the chance to win another £250,000 during the summer transfer window in 2015.
Sky have also recently announced their intention to sell off 80% Sky Bet to a investment fund earlier in the month for £800 million, a deal which will see them retain a stake in the company but use that money to reinvest in their battle against the likes of Virgin and BT. It will also help cover the wages of some of Sky’s biggest signings of the year, like Thierry Henry, who just signed a £4 million a year deal with the company to become a professional football pundit with the company.
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