Keith Haslam, Mansfield Town Chairman said "Bill wanted to take this chance to move to a higher division and I didn't want to stand in his way.
“Bill still had several months left on his contract and I was looking to sit down and discuss a new one. We wanted him to stay but sometimes people feel it is the right time to move on and this approach came out of the blue.
“It all moved on a rapid pace over Christmas. The other club asked my permission to speak to Bill. I asked him if he wanted to do so and he said he did.
“I would like to place on record my thanks to Bill for the work he has done here. He came in at a difficult time two seasons ago when we had a threadbare squad and got us through it.
“It's been a transitional period for us with the youngsters coming through and he brought them in last season and it's all started to fall into place this season.
“We'd like to wish him all the very best and I am sure whoever takes over will carry on the good work with our very talented squad.”
Dearden's new club will be announced tommorow Morning. It has to be Notts, what will happen to Brazil? Watch this space. Billy Dearden's black and white army.