League Two - Sven steps down, County taken over

PA Sport - Thu, 11 Feb 17:51:00 2010

Sven-Goran Eriksson has resigned as Notts County's director of football following the League Two club's takeover by former Lincoln City chairman Ray Trew for one pound.

2009-10 League Two Notts County director of football Sven-Goran Eriksson and executive chairman Peter Trembling - 0

Eriksson, who has accepted the honorary title of joint life president, is now free to accept other roles with renewed speculation that he could be taking part in the World Cup later this year as either the coach of Nigeria or North Korea.

Jim Rodwell, the club's new chief executive, was quoted as saying by the BBC: "He has agreed to stay on as joint life president which is a less hands-on role but it gives people an idea of how honourable Sven has been to deal with."

Rodwell added that the role occupied by Eriksson would not be filled in the short to medium term but he praised the Swede's contribution to the Midlands club.

Eriksson, who has also had spells as manager of Mexico, Manchester City and Lazio among others, unexpectedly moved to Meadow Lane last year with the club's former owners aiming to take England's oldest Football League team back to the top flight after years in the doldrums.

But the grand plans hatched by owners Munto Finance failed to get off the drawing board and the club was bought out by Peter Trembling for one pound in December.

On Thursday, Trembling issued a statement on the club's website which read: "I am delighted to announce that the search for investment into this football club has concluded and last night I signed over my 90 per cent shareholding in the club and hence the ownership to a new consortium."

Trembling, who has resigned as chairman with immediate effect, said the consortium would outline their plans for the east Midlands club at a news conference on Monday.

He also said that he was planning to sue Munto Finance after they "left the club in a real mess, a real hole."

County are seventh in League Two, occupying the last play-off spot, and visit Premier League club Fulham in the FA Cup fifth round on Sunday.

A statement by executive chairman Peter Trembling on Notts County's official website said: "I am delighted to announce that the search for investment into this football club has concluded and last night (Wednesday) I signed over my 90 per cent shareholding in the club and hence the ownership to a new consortium.

"This consortium will reveal themselves and their plans for the club at a press conference tomorrow.

"We have been on a relentless search over the last couple of months for parties intent on and able of investing 25m - 50m into Notts County.

"The new owners of the Club are not of the 25m-plus ilk but they do know the football business and most importantly have sufficient funds available to ensure the immediate survival of this football club and not least in view of our court case in less than two weeks time.

"In addition they are intent and focused on promotion this season which has been the major objective from day one."

County are due back in the High Court on February 24 to face a winding-up petition from HM Revenue and Customs for an unpaid tax bill.

Former manager Ian McParland and Nottingham Rugby Club are also thought to be owed money by the club.

Reuters / PA Sport

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