Nottingham have not played in the English Premier League since they were relegated in 1999.
London: A Kuwaiti family has bought twice European Cup winners Nottingham Forest, the English Championship (second division) club said on Tuesday.
In a statement on the club's website, Fawaz, Abdulaziz and Omar al-Hasawi said a shirt launch and news conference would be held at the City Ground on Saturday.
"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," the statement said.
Former Forest chairman Nigel Doughty died in February aged 54 after investing almost 100 million pounds in a failed attempt to turn the club's fortunes around.
Forest are one of the only eight clubs to retain the European Cup, securing their second title in 1980. They have not played in the Premier League since they were relegated in 1999.