Nottingham Forest sale edging closer, says Al Hasawi
Friday 4 November 2016 17:51, UK
The sale of Nottingham Forest could be completed before Christmas after owner Fawaz Al Hasawi confirmed he has now entered a period of exclusivity with one potential investor.
The prospective buyer is believed to be a United States consortium led by John Jay Moores and Charles Noell.
"We expect this process to last between six to eight weeks, but are working to close this deal as soon as possible," Al Hasawi said in a statement on the club website.
"As I am sure you will understand, I will not be issuing regular statements but I do want to honour my promise to keep the fans updated.
"Over this period, we will continue to work together to make decisions in the best long-term interests of the football club."
The announcement was made 24 hours after the controversial Kuwaiti, who purchased the club in July 2012, posted a series of tweets admitting his time in charge had not worked out as he had hoped before appearing to confirm his impending departure.
"I would like to wish all the supporters, the staff and the players all the best," he wrote.
"I tried my best to take the club to the next level, but unfortunately it did not work out."
Al Hasawi had initially said he wanted to maintain a 20 per cent stake in the club in the event of any deal to sell, but it is now thought he is prepared to walk away, maintaining no interest at the City Ground.
The potential takeover is thought to be worth around £50m and would need to be ratified by the English Football League and an Owners' and Directors' Test.
Moores, a former owner of the San Diego Padres baseball team, and Noell, his long-time business partner, have been searching for a British club for some time having made unsuccessful attempts to woo Everton and Swansea.
