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The Notts County Supporters Trust is to become the club's major shareholder after agreeing to buy a 20.8% stake in the club.
The purchase will make the Trust 51% majority shareholders, with spokesperson Keri Usherwood saying: "This is not an exercise in control or power broking. The club needs a prolonged period of stability in order to continue to build on the firm foundations in place. We see our role as maintaining a 'watching brief' over the happenings at the club.
"The existing directors will continue to receive our support in running the club. We will be on hand to ensure that the excesses of the past will not be repeated. After the difficult and depressing times of recent years this is an opportunity for the world's oldest football league club to look to better times with its supporters at its heart."
County, however, are to scrap 2,000 new replica shirts after the stripes were found to be the wrong way round. The shirts traditionally have a black stripe in the centre, and kit manufacturers Precision Training have accepted full responsibility for the error and will replace the shirts free of charge.
