Nottingham Forest’s journey back to the Premier League in 2022 was just the beginning of a long and ambitious quest to not only survive but thrive in English football’s top tier. Since their return, the Reds have shown no signs of slowing down in their efforts to re-establish themselves as a dominant force. Their approach to transfers and recruitment has been characterized by bold moves, calculated risks, and a clear commitment to improvement. While their journey hasn’t been without mistakes, their unwavering ambition has been at the heart of everything they’ve done since their top-flight return.
The first season back in the Premier League after 23 years of absence was always going to be a challenging one. The club faced a steep learning curve, but Forest knew they had to make significant strides in the transfer market to avoid relegation and show their intent to compete at a high level. With that goal in mind, the club invested heavily in new players, including big names like Jesse Lingard, Felipe, and Serge Aurier. These players were not just seen as new signings but as statements of intent. Lingard, a player with considerable Premier League experience and an established international reputation, was brought in to provide creativity and attacking flair. Felipe, a veteran Brazilian defender, was expected to bring some much-needed leadership and composure to Forest’s defense. Meanwhile, Serge Aurier, with his pace and experience in the Premier League, was seen as a key addition at right-back. However, despite these exciting arrivals, the season was a mixed bag for the club. Lingard’s form never quite reached the heights many expected, and while Felipe and Aurier showed moments of quality, the team as a whole struggled to find consistency. The first season was an opportunity to learn, and Forest realized that while high-profile signings could bring experience and skill, they also needed to be more strategic in their approach to recruitment moving forward.
By the time the 2023/24 season arrived, Forest had learned valuable lessons from their initial mistakes. The club’s recruitment strategy became more focused and calculated. Instead of making big-money signings solely based on reputation, Forest shifted their approach to more targeted investments in players who could offer long-term value. This shift was seen with the arrival of Callum Hudson-Odoi from Chelsea, who arrived at a bargain price after falling out of favor at Stamford Bridge. Hudson-Odoi, once considered one of the brightest young talents in English football, was expected to offer pace, dribbling skills, and versatility in attack. Forest also added fresh energy to their squad with the signings of Anthony Elanga from Manchester United and Ibrahim Sangare from PSV Eindhoven. Elanga, a young forward with an eye for goal, and Sangare, a powerful and dynamic midfielder, represented the club’s willingness to invest in youth and potential, while still prioritizing the physicality and resilience required to succeed in the Premier League. These moves signaled a shift towards building a more balanced and cohesive squad, one that could compete over the long term.
In 2024, the Reds took their ambition a step further with some truly exceptional signings. The arrivals of Elliot Anderson from Newcastle United and Nikola Milenkovic from Fiorentina provided Forest with immediate quality in positions of need. Anderson, a 21-year-old attacking midfielder, was seen as one of the brightest young talents in England. His creativity, vision, and flair made him a player capable of unlocking defenses and offering something different in the middle of the park. Milenkovic, a towering Serbian defender, was another shrewd acquisition. At 26, he was at his peak, offering a blend of physicality, aerial dominance, and leadership to a Forest defense that had shown vulnerability in the past. Together, these signings helped elevate Forest’s squad, offering a solid foundation for future success while also providing the club with the quality needed to make a push for European football once again.
However, despite their growing squad, Forest continued to pursue top-tier players in the market, and one of the most notable names linked with the club was Raul Asencio, a forward at Real Madrid who had once been on the club’s radar. Asencio’s story at Real Madrid has been a tumultuous one. After being courted by Forest, the Spanish forward has become a key figure in Madrid’s lineup, slowly evolving from a promising young talent into a regular starter for one of the biggest clubs in the world. Despite a difficult start to his season, including a nightmare performance at the Club World Cup, where he was sent off after just seven minutes in the match against Pachuca, Asencio’s ability to bounce back and regain his place in the team is testament to his resilience. Real Madrid went on to win the match despite being a man down, thanks to goals from Jude Bellingham, Arda Guler, and Federico Valverde, showing that even with Asencio’s early exit, they had enough quality to prevail. However, the red card raised questions about Asencio’s consistency, and it’s clear that his performances have been a mix of brilliance and frustration.
For Forest, Asencio’s journey served as a reminder of how quickly things can change in football. While they once made a serious play for the forward, his development at Madrid and his contract extension through 2031—complete with a £1 billion release clause—meant any potential move to the City Ground was out of the question. Despite this setback, Forest’s ambition hasn’t faltered. Asencio’s situation at Madrid, while reflecting the complexities of the transfer market, also serves to reinforce Forest’s strategy of targeting players who can help elevate the team, even if some of those moves don’t always work out.
In the grander picture, Forest’s continued ambition under the ownership of Evangelos Marinakis has been evident from the very beginning. Marinakis, who has invested heavily in the club, has made it clear that he doesn’t want Forest to be a club content with survival or mid-table mediocrity. He has consistently shown a desire to push the club to higher heights. European football was achieved just three seasons after their return to the Premier League, an impressive feat for a club that had spent over two decades outside the top-flight. With that goal accomplished, Marinakis is now focused on ensuring that Forest not only remain in Europe but continue to build on that foundation. His investment in top-quality players, improved facilities, and strategic decisions has given the club a strong base from which they can continue to grow.
As Forest look ahead to the 2025/26 season, it’s clear that the club’s ambitions are far from over. With a solid squad now in place, including standout performers like Anderson and Milenkovic, and with the core of the team continuing to develop, Forest will surely look to strengthen further in the transfer market. Whether it’s bolstering the squad with more attacking talent, adding further depth in defense, or acquiring a player who can make an immediate impact, Forest’s ambitions will continue to drive them forward. Marinakis and the board have shown they are willing to spend in order to improve the team, and as the summer transfer window approaches, it’s likely that Forest will once again be active in their pursuit of high-quality signings.
Ultimately, Nottingham Forest’s story since their Premier League return has been one of consistent ambition and progress. The club has learned from its early mistakes, adapted its strategy, and continually invested in the future. While they may have stumbled at times, they have always maintained a clear vision of what they want to achieve. Their ambition to become a top-tier Premier League side that regularly competes in Europe is evident, and with the right additions in the coming years, there’s no reason why Forest can’t continue to build on their current success and challenge for even greater honors.