Nottingham Forest are closing in on £50million takeover deal with US consortium
American consortium fronted by John Jay Moores is hoping to complete the purchase of an 80% stake in the Championship club
NOTTINGHAM FOREST are understood to be in advanced talks with an American consortium over a potential takeover worth £50 million.
Millionaire and former owner of the San Diego Padres baseball franchise, John Jay Moores is said to be the man behind the deal.
Local sources claim the 72-year-old Texan has .
Moores made his fortune launching BMC Software based on his experience as an IT specialist for Shell Oil in 1980.
The former MLB owner also lead a consortium alongside Charles Noell and were close to buying Everton earlier this year for a staggering £200 million. The move later fell through.
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Fawaz Al-Hasawi is expected to agree an 80-20 per cent split and remain as club chairman although it's thought some fans would prefer a 'clean break' from the Kuwaiti businessman if the deal goes ahead.
Forest were subject to a take over earlier this summer but backed out of negotiations with controversial Greek tycoon Evangelos Marinakis in September.
The Olympiakos owner was previously tipped as Forest's next owner but .
Despite the US consortium's progress this week, it's not a done deal yet. They are not the only potential buyers who have expressed an interest in the deal and the investment is still subject to the Football League's approval.