Hans Backe, Eriksson's former assistant at Manchester City, was given the job of manager in October 2009 . He signed a three-year deal and stated his intent to get the club promoted to League 1, but resigned two months later after just nine games in charge.
Ray Trew bought the club in February 2010 and after two months without a permanent manager, Steve Cotterill was given the Notts County job until the end of the 2009–2010 season in February 2010. Cotterill led the club to the League Two title after a 5–0 away win against the already-relegated Darlington, becoming the third club to win the fourth tier of English football three times. A month after winning the title Cotterill stated that he would not be renewing his contract at Meadow Lane. Ex-Notts County player Craig Short replaced Cotterill as Manager but was relieved of duties along with Assistant Manager Dave Kevan on 24 October 2010.
Four days later Paul Ince was appointed Manager and the following day Alex Rae was appointed as Ince's Assistant. In April 2011 Ince left the club by mutual consent. Carl Heggs was then appointed caretaker manager before Martin Allen became his permanent successor. Allen turned around the team's poor form in the league and managed to avoid relegation. Allen was relieved of duties on 18 February 2012. He was replaced with Keith Curle. Curle was able to improve the form of the team as the club finished the 2011–12 season in 7th position, missing out on the play offs by goal difference only. Curle left the club on 3 February 2013.
On 6 November 2013 Shaun Derry was appointed manager. Despite it looking as though the team would be relegated from League One, Derry was able to turn the team's fortunes around in a run that saw them take 19 points from the last 9 games of the 2013–14 season and avoid relegation thanks to a 1–1 draw away at Oldham Athletic on the final day.
On 7 April 2015 Ricardo Moniz was appointed manager on a 3-year contract, but was sacked on 29 December. Jamie Fullerton was appointed two weeks later, but he was also sacked after only 12 matches in charge, with Mark Cooper stepping in as caretaker manager until the end of the season, but he left on 7 May, with the club finishing 17th in League Two.
Former Oldham boss John Sheridan was appointed manager on 27 May 2016 on a three-year contract.
On 2 January 2017, Sheridan was sacked for gross misconduct - verbal abuse of an official and Alan Smith was subsequently appointed caretaker manager.
On 12 January 2017, Alan Hardy completed the takeover of the club from Ray Trew and appointed Kevin Nolan as manager.