Chairman promises Forest action

Last updated : 09 May 2005 By Forest
The Reds chairman has pledged to buy the remaining 15% of club shares he does not already own, paying up to £11m and clearing the club's debts in the process.

"I am in charge and I take full responsibility," Doughty told the Evening Post.

"If it was any other sort of business then I would resign, but we are not in the financial position for me to do that.

"We are exploring a way to get the short-term debt out of the way and put the club in a strong financial position some time next year or in the summer.

"We need to be able to live off the resources we generate.

"The only debt we would have would be the small mortgage on the Trent End and it is hard to say what the figure would be, but the investment would be something like £9m to £11m."

On the playing side Doughty confirmed that Gary Megson's budget for next season would be the same as the current campaign which in League One terms would be 'very large'.