Kuwait's Al-Hasawi closes in on Notts Forest deal

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Kuwait's Fawaz Al-Hasawi is to take over Nottingham Forest Football Club.

Kuwait's Fawaz Al-Hasawi is to take over Nottingham Forest Football Club.

Kuwaiti businessman Fawaz Al-Hasawi said on Saturday that "exciting times" were ahead of Nottingham Forest as he prepares to complete the deal for the English Championship football club.

In a statement, he said he was currently completing due diligence and negotiations were progressing well. It did not give a value for the deal to buy the club.

Al-Hasawi, whose family made their fortune in the refrigeration business, said he looked forward to achieving "the highest levels of success" at the club which won the European Cup, now the Champions League, twice in the 1980s.

Al-Hasawi said: "The future on-field and off-field success of Nottingham Forest is at the heart of our plans which we will of course announce in due course.

"We understand this is a difficult time for the club and its supporters and look forward to working with you in achieving the highest levels of success."

The acquisition of a football club would give Al-Hasawi automatic membership to an elite club of Gulf investors that own European football teams.

Abu Dhabi United Group Investment and Development Limited, led by Sheikh Mansour bin Zayed bin Sultan Al Nahyan, acquired Manchester City for a reported $321m in summer 2008.

Qatar Sports Investments bought a 70 percent stake in French football club Paris Saint-Germain (PSG) in June last year. The investment firm became the sole shareholder of the club after purchasing the remaining 30 percent stake in March.

Dubai’s Royal Emirates Group owns the Spanish La Liga side Getafe.

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Posted by: Graham

Hi Juliet

"Oh well you will get to see the best players from the Gulf too"

What like Al Rashidi?(who has since gone home)

Unfortunately most Gulf players would fail to cut it in Division 1 or 2 in England the standard is such a leap.

Posted by: Juliet Lopez

Hi Paul - Al Hasawi are a group of intellect people. Though they started with refrigeration business, they have a foresight to increase their business enormously. Not only are they number one in Fashion Garments at affordable prices, they are also doing extremely well in the million dollars Cosmetic industry. So my friend now that they have acquired Nottingham Forest, rest assured they will build up the academy like never before. Wait and watch. Oh well you will get to see the best players from the Gulf too.

Posted by: jim turton

well they can only be good for the forest their is know reason why we cannot be as big as liverpool take down main stand put in hotel and triple decker increase ground to 50 k buy sensceible players take over the premier league hammer every body win champions league facup and league cup then WAKE UP i love forest forever win or loose that is the difference betwin other clubas and us we are forest forever

Posted by: Paul at Nottingham

By the way, the club's name is Nottingham Forest which can be abbreviated to Nottm. Forest. Notts. is short for Nottinghamshire. The fans hate people to use it.

Posted by: Phil

Please note that the name of the club is Nottingham (Forest).

The word Nottingham can be abbreviated to Nott'm but never Nott's.

Nott's is short for Nottinghamshire.

Thanks.

Posted by: Baggie Boy

Great news for Nottingham Forest, we wish you well.
Will someone now come and buy West Bromwich Albion Football Club please.As an established Premiership club which has been run impeccably by the current owners for many years. A fantastic stadium, fan base and management set up in place.
This could be the safest sport investment ever! You heard it here first. Just google "WBA FC".

Posted by: Baggie Boy

With an income of �46,635,081 from TV rights alone last year, and an average gate of 24639. I think we are worth a look at.

Posted by: Barry Wilson

Hi Baggie boy. Sounds like a bit of a desperate come and save us plea.

I think you will find that these people are looking for a big club to invest in.........

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