By Harry Sykes

Nottingham Forest are in advanced talks with a US consortium over a potential £40million takeover, according to a report.

The Telegraph claim Forest have entered into a period of exclusivity with a party from America as chairman Fawaz Al Hasawi prepares to sell the Championship club after four turbulent years.

It is said that the east Midlands club have scrapped negotiations with controversial Greek tycoon Evangelos Marinakis.

The Olympiakos owner had been in talks over a majority stake earlier this year but he is at the centre of match-fixing allegations with an investigation underway by Uefa.

Forest have cut off contact with Marinakis and the Telegraph report they are now in advanced talks with the mystery bidders from America.

Talks are said to be some way down the line and exclusivity grants a bidder sole rights to deal with Al Hasawi for up to six weeks.

It has been an open secret within football circles for at least 12 months that Forest is on the market, with Al Hasawi’s initial asking price of £75million slashed significantly to around £40million.

Al Hasawi was hoping to agree an 80-20% split with Marinakis in the summer, and still remain as chairman, and it remains to be seen whether he will still have a presence at the City Ground or leave altogether, if the Americans complete their takeover.

His stormy reign has been fraught with problems since the Kuwaiti family bought the club in July 2012 and he is under renewed criticism from supporters after the £13million sale of Scottish sensation Oliver Burke to RB Leipzig shortly before the transfer window closed.