Nottingham Forest owner, Fawaz Al Hasawi, has confirmed that the sale of the Championship club could be completed within the next two months.
In a statement on the club’s website, Al Hasawi said: “I can confirm that I have now entered an extended period of exclusivity with one potential investor.
“Over this period, we will continue to work together to make decisions in the best long-term interests of the football club.”
The Kuwaiti businessman, who has been chairman of The Reds since 2012, would not reveal any potential buyers.
However, there are unconfirmed reports that the prospective buyers are believed to be held by American millionaire John Jay Moores in a £50m deal.
The takeover would mean that Moores will hold a 80 per cent stake in the championship club.
This announcement came just a day after Al Hasawi said goodbye to fans on Twitter.
In a series of tweets, he said: “I would like to wish all the supporters, the staff and the players all the best in the near future.
“I tried to take the club to the next level but unfortunately it did not work out.
“I hope that after the new takeover things would turn out as planned. At the end of the day I will always remain a supporter to this legendary football club.”
Al Hasawi also told the supporters that it is their duty to always back the team no matter what.