Hardy reveals Notts County are losing £1.6m a year

Notts County Football Club is on “life support”, and is “not getting better” – that’s according to new owner Alan Hardy.

Speaking at a press conference yesterday afternoon (12 January), Hardy said that the Club’s finances were “not in a healthy position”. He added: “The debt is worse than I initially imagined, but I have a history of turning around failing businesses and this is what I will do with Notts County.

“If this deal hadn’t have happened then I think this Club could’ve become extinct. But the reality is that we’re losing £1.6m a year and the debt has to be paid before the transfer embargo can be lifted. I do believe, however, that we will catch the last seven days of the transfer window.”

Hardy revealed that former Newcastle, West Ham and Bolton midfielder Kevin Nolan will be the Magpies’ new player-manager, but that he won’t be able to sign as a player until the debt is paid off.

He said: “I think Notts County is capable of staying in this league. Sam Allardyce encouraged me to take this job.”

Notts County take on Mansfield at Meadow Lane on Saturday with just a point separating them from the relegation spots to non-League football.