Notts County Supporters Trust - Official press release

By The Trust, Pics M. Stevenson
Last updated : 30 May 2003
This morning, creditors and shareholders met at Meadow Lane to discuss the future of Notts County, and to vote on the proposal for the sale of the football club forwarded by the administrator Paul Finnity. The Trust can report that an agreement was reached, and that the creditors approved the sale of the world’s oldest league club.

"thus ensuring Second Division football at Meadow Lane next season"
It is expected that the takeover will be completed in the next few days, and that the Football League will agree to transfer League membership to the new owners, thus ensuring Second Division football at Meadow Lane next season.

It is important to note that the objective of the meeting was not to distinguish between the bidders, but to discuss in principle the formation of a new company to buy Notts County FC and how much money the creditors could expect to receive. The Trust understands that the interest parties will have until 5pm to submit a final, sealed bid which must include evidence of the necessary funding and documentary proof of approval from the City Council, the Football League, Football Association, and the PFA.

The responsibility for deciding upon which party is successful falls to Paul
Finnity, who is both legally and professionally obliged to accept the best financial package for the creditors.

Since its formation in April the Notts County Supporters Trust has sought to foster greater transparency in the protracted takeover, representing members
interests to the stakeholders involved, whilst retaining an independent stance. While concerns have been raised by supporters - based on differing amounts of information released by the bidders – the Trust remains committed to the club’s long-term future and hopes that the new owners will not only secure this but also ensure that the fans’ views are no longer ignored.

To this end the Trust will be seeking immediate consultation with the new owners, and to discuss ways that its 1000 plus members may be formally represented.

Trust Vice-Chair Cheryl Thompson said “We are obviously delighted that the first stage has been completed, however the next critical moment is this afternoon at 5pm when the sealed bids will be revealed. Hopefully at that stage there will be a bid meeting the requirements of the CVA and crucially the other parties involved.”

“This been a real roller-coaster ride for fans but it looks like there is
now light at the end of the tunnel. What we all need now is a successful completion and for the Trust to be able to work constructively with the new owners in the best interests of the football club and it’s supporters.”

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