Notts County

[Xangsamhua]

This is my last post on this Notts County thread (promise!). When I started it, Notts County appeared to be entering a new era and a potentially rapid rise through the divisions. Those dreams all came to dust when it was revealed that the new and apparently cashed-up backers were con men. Then the race began for new investment in time to pay tax debts and fend off administration. Well, it appears the club is now safe, but debts are higher than expected, so the new owners may opt to put the club into administration and buy it back the next day. That would mean a loss of 10 points, but no danger of relegation and then the club can be rebuilt.

Any further postings I make about Notts will be in the Lower Leagues thread. That's where news about this old and doddering club belongs. I must say though, that the Notts County saga over the past 8 months has revitalised my fondness for my childhood club, so I'll continue to take a close interest in it, not as someone's investment, but as a football team.

Xangsamhua

New Notts owner as Eriksson exits

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

Trew has paid £1 to buy the club from chairman Peter Trembling but Notts have debts which total more than £1.5m.

Eriksson has taken up an offer to continue in a non-active role as joint life president of the League Two club.

The club risk being wound up by the High Court unless they settle a tax bill of more than £300,000.

Trembling told BBC Radio 5 live that Trew would provide a solid platform to prevent the club going under.

He added: "It's been an incredibly difficult few months and worst of all for the supporters who have been through turmoil more than anything else.

"But we are in a good position in the table looking for automatic promotion [from League One] and we are in the FA Cup fifth round.

"The plans were right, the dream was right but unfortunately the money wasn't there and that's left the club in dire financial straits.

"The important thing is Ray Trew and his consortium can bring a semblance of stability to the football club and I can see them being there for some time to come."

In an earlier interview, he said: "The new owners 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.

"I have said all along that for relatively little investment and the capability to build thereafter, this opportunity represents one of the best, pound for pound in football."

Middle Eastern consortium Munto took over the club last summer with promises of a five-year plan to take County to the Premier League.

Former England manager Eriksson was named director of football and Sol Campbell was the biggest name signing as a host of new players joined the club. But the new backers pulled out and Trembling took over in December.

Departing director of football Eriksson's reputation appears to have been enhanced by his time with the League Two club.

Midfielder Matt Hamshaw said the former England boss was a constant presence in training and was a pleasure to work with.

"He never missed a day's training even in the snow and rain," Hamshaw told BBC Sport. "He has stuck through it all. He was a real gentleman and was always there to help players out."

New chief executive Jim Rodwell said Eriksson's post would not be filled in the short to medium term but he added his praise to the Swede's contribution to the club.

Rodwell added: "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."

BBC Sports

12 February 2010

http://news.bbc.co.uk/sport2/hi/football/t...nty/8511198.stm

[Jockstar]

Eriksson: I left to save County from administration

February 12, 2010

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Sven-Goran Eriksson has claimed he walked away from Notts County to ensure the club did not slip into administration.

AlexLivesey/GettyImages

Sven Goran Eriksson: Revealed his reasons for leaving Notts County

Eriksson left his post as director of football on Thursday after the club's takeover by Ray Trew and revealed County's perilous state had forced him to give up on a project he had intended to stick with.

''Time was short for us and in the end I signed the agreement to leave the club because the alternative would maybe have been for the club to disappear,'' he said. ''I don't want to be the man to take Notts County into administration, that's why I signed the agreement yesterday.

''I am very sorry because I like the club and everyone in the club; they are very nice, very genuine people.

''I did feel personal responsibility - I know some of the players wouldn't be there if I was not. Of course I feel that. I stayed on as long as I could because of the players, the coaching staff and the fans.''

He added: ''I liked the idea of the project. It was like a dream for me. I am deeply sorry for the players, the coaches working in the stadium - hard-working, down-to-earth people and for the fans. It was a dream for them, and they have suffered big problems.

''I am sorry this happened at the last moment but it's going on as a club, even if it is not in the Premier League.''

Eriksson's goodwill towards the club was reciprocated when he was he handed the role of joint-life president by County after his resignation. And the Swede revealed that following Munto Finance's withdrawal he and former chief executive Peter Trembling had scoured Europe in search of investors to keep the club afloat.

They were in talks as late as Thursday evening, but after failing to convince any interested parties Trembling, who has indicated he would take out legal proceedings against Munto Finance, sold his majority shareholding to the consortium led by former Lincoln chairman Trew.

''I tried as hard as I could to find people who could help us,'' Eriksson said. ''After Peter Trembling took over the club we travelled all over looking for finance for the club. I have been to Norway, Sweden, Spain, Germany and London many, many times. The last time I was in London was yesterday to meet someone about taking over the club. But the guarantees never came and yesterday at 5pm Peter sold the club.''

Trembling had remained quiet over Munto Finance's decision-making process but hit out and revealed he would take legal action against the consortium.

''I'm angry. I'm more angry than anybody and it is Munto's fault. They left us in a huge hole,'' he told Sky Sports News. ''I came in as a representative as their chairman and on the back of the fact that they were going to put a huge amount of funds into this club, and they didn't.

''To the point where I put money in myself and I probably lost a proportion of that money as well, so I'm incredibly angry. Now that I've left the club in good hands it's time to take recourse against that, against Munto, and I will be doing so.

''I've not been vocal about what I've thought about Munto and what's happened as a result of that, but now I will be doing so. I want to tell my side of the story.''