Gibbs-White joins Nottingham Forest - Spending by newly-promoted club could rise to €160m

Nottingham Forest have completed the signing of Wolves midfielder Morgan Gibbs-White, after the selling club confirmed the deal in a statement on Friday morning. According to reports in England, the deal worked out at an initial fee of €29.5 million as well as likely add-ons which could make the deal worth around €41m in total. The 22-year old previously had a two-year contract with Wolves and is valued at €11m. 

Now that Gibbs-White has made the move to Forest for the reported amount, he’ll become the club’s record signing, coming in at twice the previous record set this summer by the signing of Union Berlin striker Taiwo Awoniyi for €20.5m. Indeed, Forest have spent nothing short of a fortune on new players, with all but two of their top 10 signings ever coming over the course of the past few months. 

Prior to Friday's transfer, the newly-promoted club had spent nothing short of €113m on new signings, spending money on no less than 11 transfers as well as three free transfers - which includes the high-profile signing of Jesse Lingard. In total, the club’s spending on new players now stands at €148.05m, which now makes them the third highest spending newly-promoted club in the history of the sport. Now that they have signed Gibbs-White, they now sit third behind the €160m Aston Villa spent in 2019 and the €160.7m Monaco spent in 2013.

Despite the remarkable fee that Forest seem happy to pay, Gibbs-White won't break Wolves' club record for the highest fee received for one of their players. Coming in at €41m up front, the midfielder falls just short of the €44.7m Liverpool paid for Diogo Jota in 2020, but is comfortably twice as much as what Leeds paid for Hélder Costa in 2020, who currently remains in second place.