Multi-millionaire Nigel Doughty, whose money failed to revive the fortunes of former European champions Nottingham Forest, was found dead at his home on Saturday. He was 54.
Forest, struggling against relegation at the foot of the Championship (second division) announced his death on their website (www.nottinghamforest.co.uk).
"It is with enormous sadness that Nottingham Forest announce the death of the club's owner Nigel Doughty," the Midlands club said in a statement on their website (www.nottinghamforest.co.uk).
"Mr Doughty, who was 54, was found dead earlier today in his gym at his home in Skillington, Lincolnshire."
Although he still owned the club, the life-long Forest fan stepped down as chairman in October after a decade in the job following the sacking of former England manager Steve McClaren.
He was replaced by former Forest player and manager Frank Clark.
Doughty, who saved Forest from administration when he bought the club for 11.0 million pounds ($17.38 million) in 1999, invested almost 100 million pounds of his personal fortune in the club.
Forest, the only former European champions to sink into the third tier of their domestic league, are second-bottom of the Championship. They visit arch-rivals Derby County on Sunday.