The Notts County chairman John Armstrong-Holmes has called for support from the club's fans over the proposed takeover of the club by a Dubai-based consortium.
County fans to decide on takeover
The Notts County chairman John Armstrong-Holmes has called for support from the club's fans over the proposed takeover of the club by a Dubai-based consortium. In an open forum debate more than 500 fans quizzed the chairman over concerns surrounding the approach from Munto Finance. The consortium have agreed a deal to buy the club, but are yet to receive backing from the Notts Country Supporters Trust - the club's majority shareholders with a 60.16 per cent stake.
Members are voting on whether to back the deal. Armstrong-Holmes did not divulge the financial details of the takeover, but said Munto's plans for the club are "staggering". He urged the Trust to back the proposed takeover, suggesting the deal "is the most historic opportunity in the club's history". The Magpies' chairman said there was little financial incentive for the investors, but that the club's status as the world's oldest professional club was a "unique selling point".
With little debt to their name the League Two club represent an attractive investment opportunity for Munto, enabling them to invest in an English club without taking on the debt associated with many of the Premier League clubs. Armstrong-Holmes also confirmed vice chairman, John Mounteney's agreement to gift his share in the club as part of the deal. The position of the three remaining shareholders remains unclear, with talks between shareholders and Munto yet to take place.
Fans were also reassured the club would remain at their Meadow Lane stadium. @Email:firstname.lastname@example.org