Notts County sale held up by £1m loan repayment

The sale of Notts County is being held up by the repayment of a £1m loan, according to reports this morning.

This morning it has come to light that there is a dispute of the repayment of a £1m loan to the trustees of the Haydn Green Estate, with both Hardy’s and outgoing chairman Ray Trew’s lawyers spending Monday trying to find a solution without success.

Haydn Green saved Notts County from liquidation in 2003 after buying the lason and the ground and investing several million pounds. He died in 2007 leaving an estate which controls the lease of the Meadow Lane ground.

Alan Hardy, chairman of Nottingham fit-out firm Paragon Interiors was due to be unveiled as the new owner of the Magpies today (Tuesday), but on Sunday evening he tweeted about “a big snag” in the deal, saying that “lawyers had been grafting all day” to get the deal over the line.

Last night, Hardy tweeted: “Still trying desperately to structure long term financial security for this great football club. ”

The Magpies are currently just one place and one point outside of the Football League trapdoor places in League Two after losing their last ten games.