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Notts Couty could be taken over

Thu 11th Feb 2010 | Clubs Ownership

It's understood that Notts County are on the verge of being taken over by a mystery group according to Skysports.com.

The League Two club need new investment to pay off their debts after having been served with a winding-up petition from HM Revenue & Customs over an unpaid six-figure tax bill.

Executive chairman Peter Trembling and director of football Sven-Goran Eriksson completed a management buyout at Meadow Lane in December and have been seeking new investors to secure the future of the League Two club.

A proposed takeover by a group of local businessmen headed by Sukhi Ghuman, founder of Nottinghamshire company Octavian Security, fell through last week to plunge the club's future into doubt.

However, a new consortium has come to the table and is now ready to gain control of the Magpies.

Talks are understood to be at an advanced stage and the deal is still in the process of due diligence.

The takeover could see Eriksson and Trembling both leave the world's oldest professional club when the new regime gains control.

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