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SBD Global/December 18, 2012/Franchises

Nottingham Forest's 'Embarrassing' Finances Force Executive Reshuffling

League Championship club Nottingham Forest’s Kuwaiti-based owners have been forced into a boardroom reshuffle after a "string of embarrassing off-field blunders that culminated in the club’s credit card bouncing," according to Percy & Clutton of the London TELEGRAPH. Majority shareholder Fawaz Al-Hasawi has replaced his cousin Omar as chairman following a number of "finance-related mistakes" that have increased scrutiny on the club. Forest’s players were paid a day late last month because of a "glitch in the bacs system, while it has emerged that agents and suppliers have also been paid late or are still waiting for bills to be settled." The problems "reached a head" on Friday when the team's credit card was rejected at the team’s hotel in Brighton. Although there is "no suggestion" that the Al-Hasawis have money problems, the developments are "an embarrassment to the club" (TELEGRAPH, 12/16).
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