Ray Trew confirms Notts County buy-out
As exclusively revealed by the Lincolnshire Echo on www.sportsecho.co.uk, Lincoln businessman Ray Trew has become the new owner of Notts County.
Trew paid £1 for the troubled League Two club, who are more than £4m in debt and face a winding up order over an unpaid tax bill totalling £600,000.
In what transpired to be a dramatic afternoon at Meadow Lane yesterday, Magpies executive chairman Peter Trembling and director of football Sven Goran-Eriksson both left the club.
Meanwhile, Jim Rodwell, the former Boston United defender and chairman, will become the new chief executive.
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In a statement released by Trew yesterday, he said: "Our vision is not for the short term but for the long term."
"I know fans have been hoping for a miracle investor who will spend an astronomical amount of money for a shortcut into the Premier League.
"Notts County is in a difficult financial position.
"We are here to make sure that in the short term the situation is resolved to provide a platform for the club to move forward in the long term."
Trew and the new owners will be unveiled on Monday when they are expected to outline their visions for the club.