(MENAFN) Kuwait's Al-Hasawi completed the buyout of a majority stake in second-tier British football club Nottingham Forest (the Reds), Arabian Business reported.
Fawaz, Abdulaziz and Omar Al-Hasawi have agreed to acquire the controlling stake from the estate of late owner Nigel Doughty state.
The family, who made its fortune in the refrigeration and air-conditioning business, assured that they will do their best efforts to bring the Reds back to the top of the table.
The club, which won the European Cup in 1979 and 1980, dropped out of the Premier League in 1999. It finished 19th in the 24-team Championship last campaign.
It is worth mentioning that Abu Dhabi United Group Investment and Development Limited, acquired Manchester City for a reported USD321 million in 2008.
Qatar Sports Investments bought a 70 percent stake in French football club Paris Saint-Germain (PSG) in June last year. The investment firm became the sole shareholder of the club after purchasing the remaining 30 percent stake in March.
Dubai's Royal Emirates Group owns the Spanish La Liga side Getafe.