Notts County sale delayed ‘but will get done very soon’

Meadow Lane, home of Notts County

A deal to sell Notts County is still to be finalised, despite previous expectations that it would be completed on Wednesday.

However current owner Alan Hardy remains confident “it will get done very soon”.

Staff, who were not paid in June, are waiting anxiously to see if they will be paid this Friday.

The delay moves the club closer to a High Court deadline of July 31, when HMRC plans to bring forward a winding-up petition after the court previously gave Notts County more time to pay.

Also getting closer is the club’s first match in the Vanarama National League, following last season’s relegation from the Football League. The first team is due to kick off the season at Eastleigh on August 3rd.

“It has been slightly delayed,” Hardy told TheBusinessDesk.com.

“It’s a complex and complicated transaction as it is on a pure debt-free basis with creditor claims, historic loans and arrangements from years and years ago having to be resolved.

“I absolutely appreciate staff, fans and stakeholders are really concerned but lawyers from both sides are working around the clock and remain confident that it will get done very soon”.

The football club was put up for sale in January and several parties have expressed an interest. It is understood the current negotiations are with a Danish consortium led by brothers Alexander and Christoffer Reedtz.

Nottingham South MP Lilian Greenwood is set to meet the FA this week to discuss the future of Notts County having raised the threat of “extinction” for the club at last week’s Prime Minister’s Questions.

Click here to sign up to receive our new South West business news...
Close