Nottingham Forest: Takeover by American group collapses as owner Fawaz al Hasawi claims deal wasn’t in interest of club
Struggling Championship side looked to be on verge of getting new owners but continue to remain in limbo
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NOTTINGHAM FOREST owner Fawaz Al Hasawi has announced that a prospective takeover of the club by an American consortium has fallen through.
Al Hasawi said the deal, which had been expected to be finalised this week, was "not in the interests of the long-term future of our club".
Forest are ailing under the Kuwaiti's ownership, and currently stand just two points above the Championship relegation zone after losing their last five matches in all competitions.
It had been hoped by supporters that the interest of the group headed by businessman John Jay Moores might spark a timely reversal of fortunes at the City Ground.
In a statement, Al Hasawi said: "It is with great regret and disappointment that the club announces today that, despite much speculation in the media, all negotiations in regard to a partial sale of the club to US owners have come to an end.
"We feel strongly that we have acted in good faith on behalf of the club and its fans and that such a deal as it stands is not in the interests of the long-term future of our club.
"Thank you for your continued support at this difficult time for the club."
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Al Hasawi bought the club from the estate of the late former owner Nigel Doughty in 2012.
Forest’s next game is against Birmingham City on Saturday and fans will be hoping the recent news doesn’t affect squad morale as the club goes in search of a much-needed win.
SunSport has learned the American consortium lead by John Jay Moores agreed a deal in principle to buy the club back in September, however Fawaz become frustrated with the Americans because of how long they were taking to finalise the deal and takeover the club.
John Jay Moores had already agreed a deal to sell Henri Lansbury to Derby against the current owners will, regardless of the upset the deal would cause among Forest fans.
The Americans have now failed to takeover three teams with Everton and Swansea deals collapsing in recent years, SunSport understands the Americans saw an opportunity to buy English club on the cheap due to the drop in value of the pound against the dollar after brexit.