Nottingham Forest: Takeover days away as club hit with transfer embargo

Nottingham Forest's 3-1 defeat by Newcastle United on Friday was their 12th loss in 24 league games this season

Nottingham Forest have confirmed that the takeover of the club is days from completion as they look to come out of a transfer embargo.

A delay in submitting audited accounts means the club are under embargo from 1 January until accounts are submitted.

A statement said information needed, which is not available until the change of ownership is completed, would be submitted in a "matter of days".

A United States consortium are set to take an 80% stake in Forest.

Former San Diego Padres baseball team owner John Jay Moores heads the consortium.

It is looking to take on a controlling interest in the two-time European Cup winners from Kuwaiti Fawaz Al Hasawi, who has owned the Championship club since 2012.

Last summer's transfer window was the first time the Reds have been free to do business, having been under embargo for the previous three windows, dating back to December 2014, for breaching Financial Fair Play rules.

Philippe Montanier's side are 18th in the Championship after 24 games this season, five points above the relegation places.