Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

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.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

EFL To Consider US Style Interventions At Troubled Clubs

Thu 21st Sep 2017 | Clubs Ownership

Giving the EFL unprecedented American-style powers to take over the running of clubs in crisis will be on the agenda when clubs meet today to discuss how the situation which ravaged Leyton Orient can...

Ossett Albion Takeover Brings Readymade Academy

Wed 13th Sep 2017 | Clubs Ownership

The founders and directors of Unita, a local based facilities management company, have taken the reigns at Ossett Albion in a move which sees the EVO-Stik North club inherit a ready-made football...

Southampton Secures Chinese Investment Partners

Mon 14th Aug 2017 | Clubs Ownership

Southampton Football Club has announced the formal conclusion of talks which will see Chinese businessman Mr Jisheng Gao take a stake in the Premier League club. In a letter to fans issued on Monday...

Altrincham FC Seek New Investment

Thu 13th Jul 2017 | Clubs Ownership

At a recent Extraordinary General Meeting, the shareholders of Altrincham Football Club passed a series of motions which will now allow the club to bring in new investors. A new controlling share in...