If the expansive spending of Liverpool has been the headline performance of this summer’s transfer window, Nottingham Forest have surely been the leading support act.
Two weeks after Tottenham thought they had activated a £60million release clause in his contract, Morgan Gibbs-White was standing arm in arm with Forest owner Evangelos Marinakis, after signing a new three-year contract that made him the highest-paid player in the history of the club.
The Gibbs-White operation was a Marinakis special but now the playmaker – who may be made permanent Forest captain – needs to prove his boss was correct to push the boat out for him.
Now earning about £150,000 a week, Gibbs-White’s effective task is to deliver double figures for goals and assists and be even more central to Forest’s progress domestically and in Europe.
Though Anthony Elanga was sold to Newcastle for £55m, Swiss forward Dan Ndoye for about £20m less looks a strong replacement. If Igor Jesus hits the ground running after his move from Botafogo, he will provide another option in attack and ensure there is not excessive reliance on Chris Wood.
The Gibbs-White saga has changed perceptions at the City Ground, but we must wait a little while to see if they become reality.
Morgan Gibbs-White’s contract U-turn has completely changed the mood at Nottingham Forest
Let’s see if Igor Jesus can hit the ground running after his move from Botafogo
What have Forest done so far?
At a stroke, keeping Gibbs-White revived the mood among the fanbase entirely.
Restless at seeing Elanga go to Newcastle, Forest supporters are thrilled to keep Gibbs-White and excited at the imminent arrival of Ndoye, who had a fine season in Italy with Bologna.
As well as adding Jesus and defender Jair Cunha from Botafogo, Forest have shifted fringe players Danilo, Andrew Omobamidele and Ramon Sosa – bringing in about £40m – as well as agreeing new contracts with Gibbs-White, Matz Sels, Ola Aina and Neco Williams.
They have also shown faith in head coach Nuno Espirito Santo by handing him a new three-year deal, following the club’s best league campaign in 30 years.
Jair Cunha has also joined from Botafogo, and is an extremely highly rated young centre back
What do they still need to do?
Forest would like up to five more players in this window to give Nuno the depth he needs to challenge on four fronts.
Unlike last season, when Nuno relied on a tight core of players, Forest will compete in Europe this term and will need to manage their resources accordingly.
Mail Sport understands they are targeting another forward, an extra wide man (who could be Adama Traore) and reinforcements in central defence, at full back and in midfield. Left back looks an area in need of attention, with Alex Moreno returning to Aston Villa from loan and Harry Toffolo released.
The tricky one is Callum Hudson-Odoi. The former Chelsea winger has only a year left on his contract and has not signed a new one, despite his advisors holding talks with Forest officials in Greece earlier this month. Decision time is approaching for both parties.
Callum Hudson-Odoi has only a year left on his Forest deal and time is running out to keep him
Is there enough budget and PSR headroom left to fill their needs?
Though they missed out on Champions League football and had to scale back their ambitions accordingly, Forest are in decent shape with spending rules.
They made a healthy profit on Elanga, who they signed for just £15m two years ago thanks to the efforts of former boss Steve Cooper and who, purely for accounting purposes, was valued at only about £9m when he moved to Newcastle.
The new deals and accompanying pay rises for key players will put a little more strain on the finances but still, Forest are confident they have the firepower to keep advancing.
Marinakis is desperate to increase the capacity of the City Ground to unlock more revenue.
Evangelos Marinakis is desperate to increase the capacity of the City Ground to unlock more revenue
Who are they targeting?
Forest bid £25m earlier this month for James McAtee but Manchester City value their attacking midfielder much more highly and believe the £40m Chelsea paid for Cole Palmer two years ago to be a fair barometer.
Ndoye looks an extremely smart signing at £34m and if Forest can conclude a deal with Fulham for Traore, it would reunite Nuno with a player he improved greatly during their three years together at Wolves.
Then, midfield: Forest have looked at Aston Villa’s Jacob Ramsey but regard the £40m asking price high.
Don’t rule out one of Ramsey’s former Villa team-mates, either. Douglas Luiz is unwanted by Juventus and is expected to return to the Premier League before the window closes.
Manchester City value England Under 21s captain James McAtee (10, holding European Championship trophy) far higher than Forest’s initial bid of £25million
Could former Aston Villa midfielder Douglas Luiz soon be calling the City Ground home?
And who is heading for the exit?
Nuno appears to have lost faith in Jota Silva, who joined Forest only last summer but can leave for about £13m. Sporting Lisbon have an interest in the attacker, but at this stage are looking for a loan with an option to buy rather than the permanent deal Forest prefer.
Hudson-Odoi’s future depends entirely on his willingness to sign a new deal, with Forest reluctant to let him leave for free next summer – even though they did pay only £3m for him two years ago.
Even though Forest insist Taiwo Awoniyi remains part of their plans, the club may listen to offers for him if they sign another forward and the Nigerian becomes effectively fourth-choice.
Then there is Ibrahim Sangare. Bought for about £35m, the midfielder has never found top form and it would be no surprise to see him leave if the deal suits everyone.