Forest about to be taken over by Kuwaiti Billionaire?

[Happy Fox]

http://www.thesun.co.uk/sol/homepage/sport/football/4347883/Nottingham-Forest-set-to-be-taken-over-by-Fawaz-Al-Hasawi.html

MEGA-RICH Kuwaiti businessman Fawaz Al-Hasawi is closing on a takeover of a Championship club — believed to be Nottingham Forest.

8 comments

Football nut Al-Hasawi, who is a member of one of the Kuwait’s wealthiest families, will today fly into London to complete the formalities of the deal.

Writing on Twitter last night he revealed he would be out of the country on business and told his followers “...in the coming days you will hear news.”

He resigned as president of Kuwait’s biggest football club Qadsia SC earlier this week and told national TV he was buying an English second-tier side.

He said: “It’s an English club. We have signed an agreement and hopefully within two weeks things will become very clear.”

Al-Hasawi would not reveal the name of the club but when pressed, he added: “Not in the Premier League but in the first (division).

“This club is better than any of what you have mentioned like Watford or Brighton. The club has rich history.”

Al-Hasawi’s comments sparked rumours he could be set to bid for Leeds United who revealed this week they are in talks over long-term investment.

But SunSport understands it is Nottingham Forest who he is hoping to land in a multi-million pound deal.

Forest have been on the market since the sudden death of owner Nigel Doughty in February.

Doughty had pumped £75million of his own fortune into his beloved team, who under-performed and narrowly avoided relegation to League One last season.

Forest were yesterday unable to confirm Al-Hasawi’s offer as the sale of the club is being dealt with by London-based investment bank Seymour Pierce.

Seymour Pierce have a history of working with Middle East-based businessmen and advised Kuwaiti Rafed Al Khorafi’s ill-fated attempt to buy Liverpool in 2008.

SunSport was last night unable to confirm if Seymour Pierce were in fact in negotiations with Al-Hasawi on behalf of Doughty’s estate.

Al-Hasawi’s close friend Jamal Mubarak said: “We can’t reveal the name of the British club, as Fawaz Al-Hasawi signed an agreement to keep this information secret.

“But he will announce the name by next week. Of course anything may happen or come in the way of completing the deal.

“However, most probably it’s definitive.”

During his TV interview on Tuesday night, Al-Hasawi claimed he previously attempted to buy a majority stake in QPR but pulled out when the terms of the deal changed.

He said: “About QPR, we went there saw the stadium, we went in. We couldn’t reach an agreement on the percentage of ownership.

“I was expecting that they would sell me 52 per cent, so I could take control of the club.

“However, when we were about to sign they said no it will be 30 per cent.”

Controversially, Al-Hawasi was quoted as saying he wanted current Leeds boss Neil Warnock to be the manager of his new club after being impressed by him during QPR’s promotion season.

Warnock only arrived at Elland Road in February and had revealed ambitious plans to try win promotion next term — a record-breaking eighth in his career.

The former Sheffield United manager last week claimed he was frustrated with attempts to bolster his squad with just Portsmouth defender Jason Pearce signed so far this summer.

Al-Hawasi was reported to have said: “The same coach that coached QPR and propelled them to the Premier League... we are now negotiating with him to coach the English team I’m buying.”

Al-Hasawi’s family made their fortune in the refrigeration business, although his exact wealth is unclear.

[ACF]

I hope to Allah that this is another Notts County situation.

[AyewJoking]

Does this mean we'll no longer be the biggest club in the midlands?

[Danno]

Does this mean we'll no longer be the biggest club in the midlands?

We weren't anyway..

[Nick]

Can't argue with that.

Can see this happening, it would just our luck to end up riddled with debt from the ineptitude of a 25 year old Thai whilst this lot up the road end up with the next Shiekh Mansoor.

I remember the board, the infrastructure and the buying power we had before...... I'm fairly pleased with the ineptitude of the 25 year old Thai.

[Guest MattP]

I remember the board, the infrastructure and the buying power we had before...... I'm fairly pleased with the ineptitude of the 25 year old Thai.

Remember a Portsmouth fan saying that to me in Banus a season after Gaydamak had took over.

Let's hope we still thinking the same in 5 years.

Which board are on about btw? I enjoyed the board of the late 90's, we didn't spend but kept in our means and had the most succesfful period in recent history. Was only when money went to our heads then problems arose.

[Nick]

Agree about the 90's, I was thinking about what we had directly prior to the Thai's.

I agree it all has the potential to go down the swanny, however it has done before and it's just a part of the business roller coaster that is modern football which translates as venture capitalism / gambling.

I like the lad - I think he's had to make some tough calls, I'm not sure I would have had the judgement or life experience at the age of 25 but I'm not ready to slate him at this juncture.

[Mark_w]

You know big names like Paulo Sousa or Steve McClaren would be perfect for promoting Forest in Kuwait...

[Guest Bilo]

Even if this deal goes through, I think we showed the football world that money isn't the be all and end all in the Championship.

An internationally renowned coach and £10m+ spent and we're still a Championship side.

[Fox92]

Even if this deal goes through, I think we showed the football world that money isn't the be all and end all in the Championship.

Makes a difference if your manager buys the right players though...

[Out Foxed]

Makes a difference if your manager buys the right players though...

i'm confident a billy davies or dave jones could have got us out of the championship with that money.

[AyewJoking]

Sven would have got us out. He just needed time.

[Tielemans63]

Sven would have got us out. He just needed time.

I agree. Although another season in League 1 would have been a ball ache

[Fox92]

i'm confident a billy davies or dave jones could have got us out of the championship with that money.

I know/agree. That's what I meant...

[Kitchandro]

To be honest, if I were a neutral billionaire looking to buy a club, I'd def look at Leeds or Forest.

Both great cities, both clubs have an illustrious history and both have the potential to be massive.

I've lived in Leeds and its one of those places where just about everyone supports their local side. When I was there 8 years ago the buzz when they were doing well was unbelievable - their problem then was that they were filling Elland Road (38k fans) every week and needed to extend the capacity. If someone could recreate that buzz then Leeds would be a good investment.

Ok so that's Leeds, I'm still waiting to here some reasons why Forest would be attractive for foreign investors.

Bearing in mind Nottingham is a crap city and Forest have very little potential, as the bulk of their history and average fanbase would suggest.

[Kitchandro]

Sven would have got us out. He just needed time.

And he was only 2 points off the play-offs

[RedHux]

Just to keep you all updated because I know you're all riveted by news from the city ground. The latest rumours are a Paladini (remember him?) fronted Kuwaiti takeover to be announced in some form or another on the 9th or 10th.

Other rumours are of a Franck Clark statement to be made today and some substantial changes in personal, not just on the playing side either. (please be Cotterill! )

[Guest]

And a new Blue shirt for you guys too?

[RedHux]

Possibly. There's talk of a sky blue away kit!!

But as ever we'll probably only release our kit a week or two into the season.

[Daggers]

Just to keep you all updated because I know you're all riveted by news from the city ground. The latest rumours are a Paladini (remember him?) fronted Kuwaiti takeover to be announced in some form or another on the 9th or 10th.

Is that the deadline for discount season ticket sales?

[Guest Bilo]

Can't Forest change to all-white a la Real Madrid seeing as many of their more 'challenged' fans place both clubs in the same bracket?

[RedHux]

Pfffft! Madrid can only dream of being where Forest are now.

Is that the deadline for discount season ticket sales?

Oooh you cynic.

I've just checked and it isn't.

[RedHux]

Statement from Forest (about bloody time too!)

Essentially says, this Kuwaiti chap has been granted an exclusive period of negotiation and are doing the due diligence bit (Are you a war criminal? No. Are you sure? Err...think so...right, you're in!)

[Jaspa]

You need local rivalries to survive in the Prem, and when they get more and more intense the teams seem to benefit

You can look at the Promotions of Leicester and Derby in recent times as perfect examples, and also when we crashed out after our glory.

Would certainly make for some great games, and to add more spice to our slightly confused rivalries

[RedHux]

Definitely, although right now I'm just pleased to still have a club to support and it's a bonus we might be competitive.