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Nottingham Forest Soccer Club Sold to Kuwait’s Al-Hasawi Family

July 11 (Bloomberg) -- Nottingham Forest said Kuwait’s Al-Hasawi family completed its takeover of the English soccer club from the estate of the two-time European champion’s late owner.

Fawaz, Abdulaziz and Omar Al-Hasawi agreed to acquire the controlling stake of Nigel Doughty, who died in February four months after putting the club up for sale. Financial terms weren’t disclosed in a statement on Forest’s website last night.

“We know there are challenging times ahead of us to bring the club back to its glory days,” the Al-Hasawis said last night in the statement. “We look forward with excitement towards a new successful future.”

Forest, which won back-to-back European Cups in 1979 and 1980 after winning its only domestic title in the 1977-78 season, dropped out of England’s elite Premier League in 1999. It finished 19th in the 24-team Championship last campaign.

The Al-Hasawi family, which made its fortune in refrigeration and air-conditioning according to the U.K.’s Daily Mail, said it plans to hold a news conference July 14 at the club’s City Ground stadium.

Editor: Dex McLuskey.

To contact the reporter on this story: Dan Baynes in Sydney at dbaynes@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net

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