The cash-rich Al-Hasawi family confirm that they have purchased the Midlands club and promise to bring "the glory days back" to the City GroundNottingham Forest is complete after several weeks of negotiating.
Fawaz Al-Hasawi announced on Tuesday that a deal had been agreed on his Twitter page before the deal was officialy confirmed.
The announcement did not provide any financial details on the value of the deal.
A statement from brothers Fawaz, Abdulaziz and Omar read: "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 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."