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Notts County have been bought by executive chairman Peter Trembling, it has been announced today.
The move appears to have been made more urgent by pressure from the Football League, with the Daily Mail reporting that Munto Finance had failed to answer the questions put to it by the League about their ownership and that the club were on the verge of sanctions being taken against it.
A statement on the Notts County website says Trembling has bought the club for 'a nominal sum' - suspected to be far less than the £3million originally quoted when the news broke on Wednesday night. Trembling also adds to the statement that Sven Goran Eriksson will stay at the club, and the pair 'will now embark upon the urgent process of securing new investment into the football club.'
Without the claimed Munto millions it is difficult to see how the Magpies will sustain their current wage bill. While the bulk of their squad can be sustained on their vastly increased crowds this season the likes of Kasper Schmeichel, claimed to be on £15,000 a week, are likely to be an extravagance too far without significant investment.
The exact ownership of the club has not been initially revealed but it is expected that Eriksson will hold a stake in the club.
Meanwhile Cheltenham chairman Paul Baker wants to be inspired by their new manager, telling the BBC "We want to listen to what people have got to say and we want to be inspired.
"John (Schofield) has conducted himself in a professional and workmanlike manner. I've been pleased with his commitment and made some good loan signings. Arguably, he is favourite because he is in pole position."
The Robins want to appoint a new man before Boxing Day.
