Nottingham Forest chairman Fawaz Al-Hasawi says the club’s transfer embargo will be lifted in the summer.
Al-Hasawi announced the news in a tweet on Friday afternoon.
Good news – the Football League has confirmed the transfer embargo will be lifted. #nffc
— @FAWAZ_ALHASAWI (@fawaz_alhasawi1) May 6, 2016
If confirmed by the Football League, it would mean the club can sign new players again during the summer transfer window.
The embargo was imposed last year after the club failed to meet fair play regulations around financial performance and spending.
It meant the club could only sign players on free transfers or loans and had to stick to a squad of 24 ‘established’ players – meaning players aged 21 or over that have made at least five starting appearances for the club.
Back in December the Football League said Forest could expect to come out of the embargo if it met conditions “by demonstrating that they have stayed within the maximum permitted deviation of £13m (£5m loss plus £8m shareholder investment) for the 2015/16 season”.
If confirmed the decision would make the club more attractive to potential new managers as Al-Hasawi continues the hunt to fill the hot seat permanently after the sacking of Dougie Freedman in March.
