Chairman Fawaz Al-Hasawi has confirmed Nottingham Forest are in takeover talks but says the sale of the club may be 6-8 weeks away.
A takeover seemed imminent last Wednesday when Fawaz took to Twitter to bid farewell to supporters.
In a statement released on the club’s website this morning (Friday November 4), Fawaz said: “I can confirm that I have now entered an extended period of exclusivity with one potential investor.
“We expect this process to last between 6-8 weeks, but are working to close this deal as soon as possible.”
We want to build on firm foundations
The unnamed potential investor is reportedly the 72-year-old American business tycoon John Jay Moores.
It is said the former owner of the Major League Baseball side San Diego Padres will take over all of Fawaz Al-Hasawi’s 80 per cent stake in the club in a £50 million deal.
Nottingham Forest Supporters’ Trust have called the potential takeover ‘exciting’ but their interim chairman Richard Antcliff told Notts TV last month: “We don’t want a boom and bust approach, we want to build on firm foundations.
“It’s exciting John Moores has experience in sport at a very high level but he needs football people around who know the English game.”
Forest are on their sixth manager since Fawaz took over the club in July 2012.
Full statement from Fawaz Al-Hasawi
“I would like to issue a brief statement regarding the progress made on the potential sale of Nottingham Forest Football Club.
“I can confirm that I have now entered an extended period of exclusivity with one potential investor. We expect this process to last between 6-8 weeks, but 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 that 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.”
