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Page last updated at 19:15 GMT, Tuesday, 26 January 2010

Notts County secure investment deal

Notts County

Notts County have secured a deal with an investor that will clear their debts and provide them with extra funds.

The terms of the investment, and the identity of the investor, will remain confidential until final due diligence is completed within the next 28 days.

The League Two outfit faced the prospect of finding £2m by Wednesday after HM Revenue & Customs served them with a second winding-up petition.

But HMRC have informed the club they are satisfied with the current deal.

Executive chairman Peter Trembling and director of football Sven-Goran Eriksson had been in talks with new investors since the former took over the club from Munto Finance back in December.

Trembling told BBC Radio Nottingham: "I am extremely relieved and absolutely delighted we have managed to get it finally done and dusted in the timeframes.

"We have now secured a deal that will secure the long-term future of the football club - not only in terms of survival but in terms of progressing our plans for bringing a higher level of Notts County.

"We can't say too much about it at the moment but it is a group of investors who will, over a period of time, invest we think significant funds into the football club."

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