In the stands today, in the boardroom tomorrow?

New Ball Game for Former Chancellor Clarke

Defeated Tory leadership candidate Kenneth Clarke has been offered the job of floating his cherished football club Nottingham Forest on the stock market, it has emerged.

The former Chancellor has been in talks with owner Nigel Wray with a view to becoming chairman of the club's holding company ahead of flotation later this year.

Mr Clarke, 56, a lifelong fan, would be in charge of the business of Nottingham Forest PLC, rather than the club's football arm.

It is an opportunity for Mr Clarke, who is returning to the backbenches after losing his £103,000-a-year Cabinet job on May 1, to boost his ordinary backbench salary of £43,000.

Mr Clarke has followed the fortunes of Forest since his grandfather took him there as a schoolboy and has attended matches throughout his political career.

Larry Lloyd, a former player and now the club's press officer, said the move would not affect the position of the club's current chairman Irving Korn.

He said there had only been preliminary discussions with him, but, it would be to do with the flotation, rather than the football side.

Mr Clarke told the Express on Sunday newspaper: "I have not had serious discussions about this. I have not decided what I will be doing in the future."

Self-made Mr Wray, 48, who also owns Saracens rugby club, is out of the country and was unable to comment.