I'll step in - Pavis

Pavis (centre, one on right)

The Magpies chairman is understood to have laid down an ultimatum, warning that he may try to regain power of the world’s oldest Football League club if the £3m deal is not completed by the middle of this month.

The transaction was due to be finalised in November, after Scardino and Storrie secured a £3m loan with GMEC, the financial arm of American giants General Motors.

But, largely because of the September 11 disaster — with the main GM offices being in the destroyed North Tower of the World Trade Centre in New York — that loan has been delayed.

And, with the club now struggling financially, with a loan from the PFA required to cover player wages last month, I am told Pavis has threatened to step in.

Neither of the parties would confirm that a date has been set, but Scardino insisted today that the talk of ultimatums was over-exaggerated.

Scardino

And, though Scardino would not comment directly on the issue, the biggest question remains whether Pavis would be able to carry out his threat, with the first stages of the takeover already completed.

“What I would say is that we are all working hard to solve a number of issues about the future of the club,” he said.

“We all need everyone’s goodwill and support to get through it.”

I understand Pavis made his threat after a meeting of the board at Meadow Lane last Friday.

Pavis, who is still the major shareholder at Meadow Lane and will remain chairman until the takeover is complete — though Storrie and Scardino have been running the club since the summer — returned from Spain last Wednesday.

The 73-year-old is still recovering from heart surgery he underwent after becoming ill, which prevented his return to Nottingham from his Spanish home.

Although he has not yet completely recovered, he has made it clear he would be willing to take over the running of the club, if he felt it was in Notts’ best interest.

Whether he would be legally entitled to make such a move, with the first part of the takeover complete, is unclear.

Peter Storrie

The details of the takeover contract are not public knowledge, but with around a £1m already thought to have changed hands, it seems impossible that Storrie and Scardino could simply be booted out of Meadow Lane.

But there is still a very good chance it may never come to that, with Scardino remaining convinced that the loan from GMEC should soon be forthcoming.

A confidentiality clause prevents the club commenting on the deal — with the club already getting a slap on the wrist for making it public in the first place — but the problems behind the delay are understandable.