Notts County executive chairman Peter Trembling has described the media attention given to the club's takeover by Munto Finance as "scandalous".
Trembling told BBC Radio Nottingham that the investors are unhappy at the way the takeover has been reported.
He said: "They're extremely angry. What's happened over the last few weeks has been extremely demoralising.
"The unprecedented backlash they've had from certain sections of the media has been quite scandalous."
He added: "I just can't fathom why people aren't applauding the fact that these Middle East businessmen want to invest in Notts County.
"I don't know if it's jealousy or a vendetta or pure spite and maliciousness."
The Football League board meet on Thursday to discuss the takeover by Munto Finance, many of whose investors remain unknown.
The Shafi and Hyat families have been named as investors in the trust which owns Notts County, but other investors have still to be revealed.
Trembling remains convinced that the takeover will be ratified: "I met one of the owners over the weekend and they're the nicest people you could wish to meet and so genuine about what they want to do.
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