Nottingham Forest’s best Premier League signings of all time

Nottingham Forest have enjoyed two standout eras of transfer business in the Premier League, separated by almost three decades. The first was Frank Clark's swashbuckling rebuild in the mid-1990s and the ambitious recruitment drive that followed their return to the top flight in 2022.

From bargain buys who became club-defining figures to expensive investments that generated extraordinary returns, Forest have produced some outstanding pieces of transfer business across their Premier League history.

It has not been all rosy for the club, as we have covered Nottingham Forest's worst signings in another piece, but in this article Football Whispers runs down five of Forest's best Premier League signings of all time.

5. Murillo

Murillo looked a snip from the moment he arrived at the City Ground when Forest paid Corinthians a reported £15m for the young centre-back in August 2023, and it did not take long for the Brazilian to establish himself as one of the most exciting defenders in the Premier League.

After making 32 league appearances in his debut campaign, Murillo went up another level in 2024-25, starting all 36 of Forest's Premier League matches and helping Nuno Espirito Santo's side secure European football with a seventh-place finish. He was also named Forest's Player of the Season in 2023-24.

His rapid development has subsequently made him one of the most coveted young centre-backs in Europe. Liverpool and Real Madrid have both been linked with the Brazilian, but Forest moved to protect their investment in January 2025 by handing him a new contract until 2029.

At 24, Murillo still has plenty of room to develop, but Forest have already turned a relatively modest outlay into one of the Premier League's most valuable defensive assets.

4. Anthony Elanga

Anthony Elanga was a bargain before he had even pulled on a Forest shirt after the club paid Manchester United a reported £15m for the Sweden international in July 2023, giving the winger a chance to rebuild his career after his opportunities at Old Trafford had become limited. 

He quickly proved that the move was exactly what he needed, registering five goals and four assists in his first Premier League season at Forest before taking another significant step forward in 2024-25. 

The Swede featured in all 38 league matches, scoring six goals and providing 11 assists as Forest finished seventh and secured European football for the first time in 30 years.

His pace and direct running made him one of Forest's most dangerous outlets in transition, while his improvement in the final third significantly increased his value.

Forest were ultimately rewarded handsomely when Newcastle United paid an initial £52m for Elanga in July 2025, with a further £3m available in performance-related add-ons. In two seasons, Forest had turned a £15m investment into a potential £55m return.

3. Stan Collymore

Stan Collymore takes us back to the first of Forest's great Premier League transfer eras.

Frank Clark won the race for the striker in 1993, paying Southend an initial £2.25m for a player who had scored 15 goals in 30 appearances for the Shrimpers.

Collymore immediately justified the investment, scoring 19 goals in 28 league appearances as Forest secured an immediate return to the top flight. 

He then produced one of the finest individual seasons in the club's Premier League history, scoring 22 league goals in 1994-95 as Forest finished third and qualified for the UEFA Cup.

That remains Forest's highest Premier League finish, while Collymore's goalscoring form earned him England recognition and a place in the PFA Team of the Year.

Forest's timing was almost as good as their scouting, as two years after buying him for £2.25m, they sold Collymore to Liverpool for a British-record £8.5m, giving the club a huge return on their investment.

Few Forest signings have combined immediate impact, elite-level production and resale value quite so effectively.

2. Morgan Gibbs-White

Morgan Gibbs-White remains the defining signing of Forest's modern era.

The midfielder arrived from Wolves in August 2022 for an initial £25m, with a further £17.5m available in performance-related add-ons. It was a club-record investment for a newly promoted Forest side, but one that has been justified by his importance to the team's transformation.

Gibbs-White quickly established himself as Forest's creative hub. He scored five Premier League goals in each of his first two seasons, before producing seven goals in 34 league appearances in 2024-25. 

He also supplied eight assists in that campaign and was shortlisted for the Premier League's Player of the Season award as Forest secured European qualification.

His influence has extended beyond the numbers. Gibbs-White has become the player through whom Forest's attacking game often flows, while his performances have earned him England recognition.

For a club returning to the Premier League after a 23-year absence, committing such a substantial fee to a 22-year-old was a major gamble. Gibbs-White has made it look like an increasingly sensible one.

1. Elliot Anderson

Elliot Anderson tops the list because few signings in Forest's history have produced such a remarkable combination of development, sporting impact and financial return.

Forest paid Newcastle around £35m for the midfielder in 2024, a sizeable investment in a player who had made only a limited number of Premier League starts for his boyhood club. 

Within two years, however, Anderson had developed into one of the most important players in Forest's midfield and established himself as an England international.

His final season on Trentside was particularly impressive, having helped Forest reach the Europa League semi-finals while continuing to establish himself at international level. He finished his final Premier League campaign with four goals and five assists in 38 appearances, according to Premier League statistics.

Forest were then presented with an offer that was simply too extraordinary to ignore. Manchester City agreed a £116m deal for Anderson in June 2026, making him the most expensive British player in football history.

Forest had therefore transformed a £35m signing into a £116m sale in only two years, while also benefiting from Anderson's performances during a period in which the club progressed from Premier League survival to European competition.