Notts County close to agreement for sale of League Two club

7 Apr

Notts County are close to agreeing a deal for the sale of the club, Press Association Sport understands.

The identity of the potential new owners is being closely guarded, an American consortium is known to be interested and had reached an agreement in principle with current owner Ray Trew, but it is thought talks have progressed this week and there is a possibility an announcement may even be made before the weekend.

Trew, who bought the world’s oldest professional football club for £1 almost six years ago following the Munto Finance fiasco in 2010, put Notts County up for sale in February and stepped down as chairman, citing fans’ abuse aimed at his family behind the reason.

Groups and individuals from America, China and Denmark were all linked with moves for the Magpies.

However, local businessman Alan Hardy has been the only one to make his interest public but his offer fell short of what Trew valued the club.

Notts County were issued with a winding-up petition by HMRC last month but the court case was adjourned to allow a potential sale to go through.

Following relegation last season the Magpies were tipped to challenge prominently for an immediate return to League One but, despite considerable financial backing in the summer with signings such as Izale McLeod, Jon Stead and Stanley Aborah, they have struggled.

Ricardo Moniz was sacked as manager in December and Mark Cooper, appointed last month, is the third man in charge at Meadow Lane this season – following Jamie Fullarton.

Notts County go into Saturday’s home game against Stevenage on a 10-match winless run, which includes seven defeats, that has seen them slip to 20th in League Two.

Source: PA

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