The Nottingham businessman who owns The Nottinghamshire Golf and Country Club in Cotgrave said "It's no secret that I've had some recent dialogue with Ray Trew. I've tabled an offer with what I believe to be a very aggressive and fair price.
"Despite the negative view that some supporters have of Ray, he has invested a lot of money into the club.
"He needs to make his numbers work and his books balanced. At this moment in time, the number I have on the table doesn't align with the number to balance his books.
"He wants a price for the club, including the debt. Some of the debt he's incurred and some he's inherited.
"I have respect for the guy. He's a successful businessman but I can't do any more at this moment in time.
"I'm sure we will have a few more conversations in the coming weeks but at this moment it's stalled and I'm focusing on other business opportunities,
"I'm not sure what needs to happen to unlock it. He has an amount of debt and I have a finite amount of resources available to me, and at the moment the two aren't aligned.
"He's in a really difficult situation and he genuinely has tried to do the best for Notts County.
"He's under huge pressure and I have a lot of sympathy for him. He's tried to create a club and a business but for whatever reason, it hasn't quite worked out for him.
"It needs someone new and he acknowledges that but at this moment in time the amount I'm prepared to invest in the club doesn't align with how much he needs and wants for the business.
"If Ray Trew can find a billionaire American or Sheikh who is genuine then I'd be delighted.
"Likewise I'd be quite delighted if Nottingham Forest get the same because for me it's about the success of Nottingham as a city.
"Unfortunately the team is going through a dip at the moment, which is hugely upsetting, annoying and frustrating. Hopefully they will turn that around.
"If they left the league it would be a disaster. It doesn't need a new manager and players at the moment, it just needs refocusing and then reinvestment at the appropriate time.
"You can't just continually keep throwing money at new players and managers because that hasn't worked.
"But it needs a new vision of where the club could go and where the players could aspire to."