Nottingham Forest received a further £38million ($51m) in shareholder funding across April, May and June of this year, taking total owner funding at the City Ground in 2025-26 beyond £100m.Forest, whose accounting year runs from July to June, received share injections in each of the final three months of that period: £11.5million in April, £15m in May and another £11.5m in June. In conjunction with £48.23m in September 2025 and £15.04m the following December, it means the club received £101.3m in a single year from above; Forest are 80 per cent owned by Evangelos Marinakis, who bought the club nine years ago and is its main benefactor.The latest injections, which appeared in filings at UK Companies House on Wednesday, lay bare the cost of running Forest, even in a season where they progressed to the Europa League semi-finals. Per The Athletic’s estimate, that run garnered around £21million in prize money, though that was mostly offset by reduced takings at home. A fall from seventh to 16th saw Forest’s Premier League prize money reduce by around £15m, the largest drop of any club last term.It came on the back of significant transfer spending in summer 2025, and Forest have routinely relied on Marinakis to underwrite losses during his time at the helm.In the eight seasons to the end of 2024-25, Forest lost a combined £237million, making a profit just once. That came in 2023-24, when the sales of Brennan Johnson, Orel Mangala, Moussa Niakhate and Odysseas Vlachodimos turned a £75m pre-player sale operating loss into a £10m profit. Without such sales a year later, losses lurched again, leaping over £70m for the first time.Marinakis provided £89.1million in new cash then, and Forest upped their external lending by £25m, refinancing an existing debt by borrowing £80m from Apollo Management.Yet, even with the then-club record sale of Anthony Elanga to Newcastle (£52m) last July, these latest filings confirm the 2025-26 season as Forest’s most reliant yet on Marinakis’ deep pockets. The £101.3million injected over the course of last season means that his funding of the club is a smidge shy of £350m in nine years. Far from Premier League status conferring wealth on the owner, his infusions have only grown larger.