Billy Davies is staying on as manager of Nottingham Forest following talks with the club's owner. Davies' future was thrown into doubt after he admitted he had "some thinking to do" following their defeat by Blackpool in last week's Coca-Cola Championship play-off semi-final.

But owner Nigel Doughty has given the Scot assurances that he will be able to add to the squad he led to third place this season.

"Billy has done a marvellous job and he's here for the long term," said Doughty. "We've asked him to build a club and he's going to take on that challenge.

"We have a young, talented squad that's only going to get better."