Nottingham Forest have refused to comment on speculation that they are in talks with a Kuwaiti millionaire about a takeover of the club.

A report in the Kuwait Times claims that businessman Fawaz Al-Hasawi is close to a deal for Forest or npower Championship rivals Leeds.

Al-Hasawi resigned as chairman of Al-Qadsiya Sports Club this week.

A statement on Forest's official club website said: "The board of NFFC confirm that they are unable to respond to media speculation regarding the club's future ownership.

"The club sale process is being driven by the estate of Nigel Doughty and by Seymour Pierce as previously announced."

Forest have been for sale since October 2011 when Nigel Doughty resigned as chairman but his death in February has made any sale more complicated.