Takeover almost complete

Last updated : 10 July 2009 By Jacob Daniel
Reports suggest that the takeover of Notts County by Middle Eastern consortium Munto Finance Ltd. should be completed early next week, as the final checks and Football League approval are expected to go through over the weekend. It is now a month since the story of the takeover first broke, and it seems that Notts fans can finally celebrate a new era at Meadow Lane.

After the Supporters' Trust voted greatly in favour of the takeover two weeks ago, it seemed a formality that the takeover would go through, as the Trust's shares will give Munto a controlling stake in the club, while John Mounteney has also pledged to gift his shares to the consortium. Roy Parker's shares also appear to be sorted out, with the vice chairman being one of the deal's key brokers, leaving just Peter Joyce who owns less than 10% of the club's shares.

Munto have been carrying out their final due dilligence checks in the past couple of weeks and these should be completed over the weekend which, along with Football League approval, mean the takeover should get the green light early next week, and NCM will have news of any announcement first.

Peter Trembling is set to take over from John Armstrong-Holmes as chairman when the takeover goes through, and he is joined on the club's board by Peter Willett, although it is expected Munto will make further announcements about such issues when the takeover is confirmed.

For the latest news, keep tuned to NCM....