An attempted takeover of Notts County by a consortium of local businessmen has been rejected by the club this afternoon after discussions about a possible deal over the past few days.
Sukhi Ghuman, founder of away shirt sponsor Octavian Security and one of the bid's leaders, said he wishes Peter Trembling and Sven Goran-Eriksson the best in their search for fresh investment into the club, but he was "embarrassed and annoyed" by the saga.
The Magpies have three weeks to find enough money to pay their debts or they face a winding up order.