Kuwaiti businessman Fawaz Al-Hasawi has announced his family's takeover of Nottingham Forest is complete.
The Al-Hasawis, one of Kuwait's richest families, had been negotiating the takeover for several weeks with the estate of the late owner Nigel Doughty.
Fawaz Al-Hasawi confirmed the deal had been done via his Twitter account on Tuesday.
He said: "I can officially announce that the acquisition of nottingham forest is complete.
"We have become the official owners. I thank my brothers Abdulaziz and Omar for their efforts."
The Kuwaiti family went into more detail on the takeover in a statement released by brothers Fawaz, Abdulaziz and Omar on Forest's official website on Tuesday evening.
It read: "We are delighted to announce that we have just completed our acquisition of Nottingham Forest Football Club from the Estate of the late Nigel Doughty.
"It is an honour and privilege for the Al-Hasawi Family to assume control of this great club steeped in history and with the outstanding legacy left by its previous owner Nigel Doughty.
"We know there are challenging times ahead of us to bring the club back to its glory days and we look forward with excitement towards a new successful future.
"Over the next few weeks we will be working closely with our players, on-field and off-field team members in preparation for the forthcoming season.
"This is a tremendously motivating time for the family and club and you can be assured of our best efforts in bringing the Reds back to the top of the table."
The statement added the club will be holding a new season shirt launch and press conference at the City Ground later this month.
The Al-Hasawis did not provide any financial details on the value of the deal, which was greeted with delight by the playing staff.
Forest striker Dexter Blackstock tweeted: "Great news."