Nottingham Forest owner Nigel Doughty has been found dead in the gym of his Lincolnshire home, aged 54.

The Nottinghamshire-born businessman, whose empire comes from a European equity firm, bought the club in 1999 and acted as chairman until his resignation in October of last year.

He first purchased a 40% stake in the Midlands club to save them from administration before investing a further 45% in 2001 after clearing the club's mounting debts.

A statement on the club's website read: "It is with enormous sadness that Nottingham Forest announce the death of the club's owner Nigel Doughty.

"The club would like to appeal for the privacy of Mr Doughty's family to be observed at this sad time."

It is estimated that Doughty invested more than £100m during his tenure at the City Ground.