John Percy reporting that we are in talks with an American consortium over a £40m takeover. Got to be better than the Greek guy surely?
posted on 11/9/16
Football
Nottingham Forest are in talks with an American consortium over a potential £40million takeover, after scrapping negotiations with controversial Greek tycoon Evangelos Marinakis.
Forest are understood to have entered into a period of exclusivity with a party from the United States as chairman Fawaz Al Hasawi prepares to sell the Championship club after four turbulent years.
Marinakis, the Olympiakos owner, had been in talks over a majority stake earlier this year but he is at the centre of match-fixing allegations with an investigation underway by Uefa.
He has denied the charges but the Football League is thought to have held serious concerns over his links with Forest, due to the scandal that has gripped Greece football for the past two years.
However, Forest have cut off contact with Marinakis and are now in advanced talks with the mystery bidders from America, with the former European Cup winners up for sale at around £40million.
Talks with the American party are said to be some way down the line and exclusivity grants a bidder sole rights to deal with Al Hasawi for up to six weeks.
It has been an open secret within football circles for at least 12 months that Forest is on the market, with Al Hasawi’s initial asking price of £75million slashed significantly.
Al Hasawi was hoping to agree an 80-20% split with Marinakis in the summer, and still remain as chairman, and it remains to be seen whether he will still have a presence at the City Ground or leave altogether, if the Americans complete their takeover.
His stormy reign has been fraught with problems since the Kuwaiti family bought the club in July 2012 and he is under renewed criticism from supporters after the £13million sale of Oliver Burke to RB Leipzig shortly before the transfer window closed.
Forest did not agree a sell-on clause for the Scotland international – who was also a target for Bayern Munich and Manchester United - and there was further criticism after just £300,000 was spent on players before the deadline.
There have also been issues over winding up orders, late payments of bills, staff sackings while before the start of this season the City Ground’s capacity was temporarily reduced to zero as the club did not have a required safety certificate holder.
Philippe Montanier is their eighth permanent manager since October 2011 and takes Forest to Villa Park on Sunday – with the game to be the first ever Championship meeting between two former European Cup winners.
Villa are under new ownership after the £65million buy-out by Chinese businessman Dr Tony Xia in June.
posted on 11/9/16
Let's hope this is a legitimate takeover. I was full of hope and optimism when Fawaz took over but he has bought shame and embarrassment to our club and made us a laughing stock. Let's see what unfolds in the next few weeks but fingers crossed this takeover could be the way forward.
posted on 11/9/16
Oddly enough, if the previous few weeks contain fawaz last acts in charge they may well prove to be of some benefit for us.
£13 million for Burke is good business as is Britt's contact and if Lord Bentner comes off it could be a masterstroke.
Be glad to get rid of the useless Nkobhead though .....
posted on 11/9/16
If we get to keep the 13m as part of the takeover, or it's not another asset stripping consortium. But, either way, a new figure to hate, preferably nameless, would be a welcome change
posted on 11/9/16
I'm glad the Greek talks have come to nothing. Nevertheless, these are still worrying times; I always think better the devil you know. But someone has to own the club I guess.
It just needs to be sorted out quickly, and fingers crossed.
posted on 12/9/16
The devil we know in this case is IMO bad for the club. I don't think the main reason they are looking for heavy investment is to do with fans disillusion though. I firmly believe the family want to stop the "investment" in Fawaz at Forest. But to complicate it, Fawaz wants to stay on with a share of the club.
posted on 12/9/16
Funny thing is the report said the original figure that was put on us when we came up for sale was £10m higher than Villa went for! It's reduced down a fair amount but if that has firm substance would further cement the lack of clue they have