Wednesday, 11 July 2012
Fawaz Al Hasawi completes Takeover at Forest
Nottingham Forest are the latest English club to have been bought by a foreign owner after Kuwaiti businessman Fawaz Al Hasawi finally completed his takeover of the club.Al Hasawi, a member of one of Kuwait’s richest families and who resigned as president of Kuwaiti club Qadsia earlier this year, was granted a period of exclusivity by the East Midlands club 10 days ago while he carried out due diligence.He has made no secret that he was aiming to buy a second-tier English club, with the two-times winners of the European Cup having just retained their Championship status and on the market since the sudden death of owner Nigel Doughty in February.Al Hasawi announced the takeover had been successful last night on his Twitter account. “I can officially announce that the acquisition of Nottingham Forest is complete,” he said. His news was greeted with delight by the playing staff.“Great news,” said striker Dexter Blackstock in a tweet of his .There have been suggestions that the potential new owners would want to replace Steve Cotterill as manager, with Neil Warnock, who is currently in charge of Championship rivals Leeds United, mentioned as a likely candidate.Al Hasawi spelled out a golden vision for Forest last Friday.“We wish to bring the club back to where it belongs in the top division. Together we can bring the glory days back,” he said.
His family’s main business interests are in property, hotels and air conditioning, while Fawaz recently quit as chairman of Kuwait’s Qadsia football club, which has won the past four domestic championships.