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Notts County takeover sees Eriksson leave.

Fri 12th Feb 2010 | Clubs Ownership

Notts County Football Club were officially taken over yesterday by Ray Trew, a former chairman of Lincoln City who is already promising a new era of austerity amid deepening financial troubles.

The deal which saw the club exchange hands for £1 will see former England boss Sven-Göran Eriksson step down as Director of Football acting only as an honorary President at the League Two club. Peter Trembling, the former Chairman will also leave the club.

The deal will bring to an end a sorry chapter in the history of County and the Football League. Trew, Chief Executive and leading shareholder of a Lincoln recruitment company thought to be worth £200 million, has intimated that debts at Meadow Lane, previously reported to be about £1.5 million, are £4 million and rising.

In and interview in The Times, Trew explained,  “There is going to have to be some serious cost-cutting. Those who think the club is £1.5 million in debt are living in cloud-cuckoo-land. The club has a backroom staff that Premier League clubs wouldn’t carry.

“As businessmen, we have to cut our coat according to our cloth. We live in the real world. I’m very ambitious and we want to take Notts County to the Coca-Cola Championship eventually. We’re going to do a Peterborough United, but planning for the Premier League was a bridge too far.”

The club must settle a £324,000 tax bill next month, are being pursued by Marston’s, one of the country’s leading brewers, who claim they are owed £95,000, and defaulted on £37,000 in legal fees owed to Nottingham Rugby Club yesterday after reneging on a ground sharing deal.

Fans will welcome the promise of stability offered by Trew and his fellow directors, Luke Jones and Jason Brewer, who set up a new company, Notts County Football Club 1862 — a reference to the date that the world’s oldest professional club was founded — on February 8 in preparation for the takeover.

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