Nottingham Forest: Championship side come out of transfer embargo

Nottingham Forest are 20th in the Championship table, two points off the relegation zone

Nottingham Forest have come out of their transfer embargo, BBC Radio Nottingham reports.

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

The club are on the verge of being taken over by an American consortium led by John Jay Moores.

The consortium have said the money for the deal - thought to be worth £50m - is in the bank and available.

But there has been no update from the club - or the prospective new owners - as to whether the takeover from Fawaz Al Hasawi has been completed.

The Reds have lost five of their last six matches, with their only point in that time coming in a 1-1 home draw with Preston, and are currently only two points clear of the relegation zone.

Analysis

BBC Radio Nottingham's Nottingham Forest correspondent Colin Fray

"It's clearly good news that Forest are able to add to their squad again, even if fans are still waiting for news on the takeover.

"The suggestion was that the delay in submitting the accounts was because it was unclear who would be responsible for the day-to-day funding of the company.

"While we still don't know who that is. it now seems that someone - possibly the potential new owners, possibly the current owner, or possibly both - has taken on that responsibility.

"That would have enabled the club to send their accounts to the league and, as expected, as soon as they did, the embargo was removed. This news suggests that negotiations are progressing, but we still don't know in which direction."