Apollo Management has issued an £80 million loan to Nottingham Forest Football Club, marking its first known entry into English Premier League finance.
According to the Financial Times, the three-year loan, agreed in December, carries an interest rate of 8.75%.
Filings show £55 million was used to refinance existing debt owed to Rights and Media Funding Group, a lender that has also backed Everton.
The remaining £25 million will serve as working capital. The loan is secured against club assets, including the City Ground, which is scheduled for redevelopment.
Forest, owned by Greek shipping magnate Evangelos Marinakis, made an operating loss of £73 million last year but reported an overall profit after more than £100 million in player sales.
The club will enter next season’s Europa League after finishing seventh and benefiting from Crystal Palace’s exclusion.
The deal reflects a growing trend of US lenders offering high-interest debt to European football clubs.