May 25, 2024

He was formerly the club’s record signing.
It is no secret that Nottingham Forest have made significant investments since their return to the Premier League in 2022/23.

The Reds won promotion under Steve Cooper after defeating Huddersfield Town 1-0 at Wembley Stadium in the play-off final, despite the club’s need for wholesale signings to compete in England’s top flight.

The club has made 34 acquisitions since promotion, the most of any team in the top league, but they have been hit-and-miss, with Forest experiencing a high churn of players in recent months.

Despite the turnover of players, the Reds’ high spending remained common in the Championship, with the club investing £6 million for experienced striker Lewis Grabban in the summer of 2018.

However, the singing of another player that summer piqued the interest of Forest fans and those of other teams in the division.

Joao Carvalho’s stats at Nottingham Forest

During the 2018/19 season, owner Evangelo Marinakis spent about £20 million on players, the majority of which went to intriguing youth Joao Carvalho from Benfica, who joined the City Ground for £13 million.

It was a signing that sparked enormous excitement among the fans, with the belief that the skill would help Forest end their nearly two-decade absence from the Premier League.

However, he failed to make a significant impression during his tenure at the club, with the teenager failing to live up to his high price tag, which shattered the club’s record, previously held by Britt Assombalonga, who joined the Reds for £5.5 million in 2014.

Carvalho appeared 75 times for Forest, scoring eight goals and assisting nine in a dismal three-and-a-half-year spell at the City Ground.


He would fall down the pecking order in 2020/21, and the midfielder would later join former Reds youngster Arvin Appiah on loan at Almeria, where he would play 36 games without scoring a goal.

Carvalho failed to make an effect on heroic manager Cooper during the promotion-winning season, and the Portuguese star was subsequently sold to Marinakis’ other club Olympiacos for an undisclosed fee – as Forest cut their losses on him following a poor tenure in the East Midlands.

Joao Carvalho’s market value in 2024

Nottingham Forest's Joao Carvalho 'a favourite' of Olympiacos -  Nottinghamshire Live


Over two years after leaving Forest, Carvalho is still struggling to produce outstanding performances, with the now 27-year-old making only 42 appearances in that time, the majority of which came from the bench.

Ryan Dilks, nicknamed the “colossal flop” on the Second Tier Podcast, has had his market worth collapse as a result of his lack of game experience, with the midfielder now rated at a mere £1.2 million by Transfermarkt.

Carvalho is presently valued £3 million less than current Forest loanee Divock Origi, with the Belgian only worth £4.2 million, according to Transfermarkt, following a disappointing season at the City Ground in which he scored once.

Despite the Portuguese ace being a fan favourite during his time in Nottingham, the club did the right thing by moving him, as the club quickly advanced beyond his level following promotion and survival in the Premier League.

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