Nottingham Forest rejected a €50m (£43m) offer from Atletico Madrid for Brennan Johnson prior to his eventual sale to Tottenham Hotspur.

Johnson was sold by Forest in part to help with their financial problems, joining Spurs on transfer deadline day of the summer 2023 window for £47.5m.

Forest presented the sale of the Wales winger as evidence in their fight against a Premier League points deduction for breaches of profit and sustainability rules (PSR). They were nevertheless found to have spent beyond their means and were docked four points.

Part of their case revolved around how selling an academy asset like Johnson was proof they were dedicated to sustainability, but this was dismissed.

The written reasons from the independent commission who decided upon the case have been released and detail how Forest turned down bids for Johnson prior to the June 30, 2023 PSR deadline.

On the day of that deadline, Atletico made an offer to Forest worth €50m. The East Midlands side immediately countered with a €65m valuation but talks did not progress.

If Forest had accepted the offer, Johnson would have been Atletico’s most expensive signing of the summer by a considerable distance, with their €6m deal to sign 19-year-old Samu Omorodion the most they forked out on one player in the end.

The PSR deadline passed for Forest but the summer window remained open and the club continued to try and balance the books. They received a £32.5m bid from Brentford for Johnson on 21 July and then another £35m three days later, but both were rejected.

On 28 August, Brentford returned with a new £40m bid, and though this was declined, Forest owner Evangelos Marinakis told club director Ioannis Vrentzos to ensure Johnson was sold before the 1 September transfer deadline.

Johnson’s £47.5m move to Spurs was completed hours before that deadline, but this sum will not count under Forest’s PSR calculations from the last financial year.

The 22-year-old has been a regular under Ange Postecoglou since making the move to Tottenham, registering four goals and six assists in 26 Premier League games.