FOREST’S KUWAITI OWNER READY TO BOW OUT
NOTTINGHAM Forest owner and chairman Fawaz Al Hasawi says he expects to sell the club in the next six to eight weeks.
Al Hasawi has entered a period of exclusivity with one potential buyer – thought to be an American consortium led by millionaire John Jay Moores.
Moores appears set to buy 80 per cent of Forest for around £50m, which would end the Kuwaiti’s four-year ownership of the City Ground club.
Al Hasawi said: “I would like to issue a brief statement regarding the progress made on the potential sale of Nottingham Forest Football Club
“I can confirm I have now entered an extended period of exclusivity with one potential investor.
“We expect this process to last between 6-8 weeks, but we are working to close this deal as soon as possible.
“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.
“This is obviously not the end of the process, but I hope you will agree this is a good start.
“Over this period, we will continue to work together to make decisions in the best long-term interests of the football club. Thank you.”
The statement was released one day after Al Hasawi appeared to bid farewell to the club’s fans on twitter.
Forest have been entrenched in the Championship throughout his ownership, and the 48year-old acknowledges that he failed in his bid to return the club to the Premier League for the first time since the 1998-99 season.
“I would like to wish all the supporters, the staff and the players all the best,” he added.
“I tried my best to take the club to the next level, but unfortunately it did not work out.”