x Abu Dhabi, UAETuesday 16 January 2018

Munto close to completing takeover of Notts County

The takeover of Notts County by a UAE-backed consortium moves a step closer after fans give their approval for the deal to buy the club.

The takeover of Notts County by a UAE-backed consortium moved a step closer after fans gave their approval for the deal to buy the club. Members of the Supporters Trust have overwhelmingly voted, by 814 to 55, to gift their 60 per cent shareholding of the League Two club to Munto Finance Limited. With the Football League yet to sanction the move, it could be two weeks before it is completed. The consortium is being headed by Peter Trembling, who will become chairman and chief executive, and Peter Willett, a client representative of the Dubai-based Al Thani Investment Group.

John Armstrong-Holmes, the current County chairman, said the world's oldest professional club was now envied by rivals as plans are put in place to make it an established Championship side within five years. "There is still work to be done to complete the takeover, but now the votes have been cast we can clearly see the way forward," he said. "When I was at the recent annual meeting of the Football League, people were coming up to me wanting to know how we had managed to pull it off.

"Although it has been proved many times before that money doesn't guarantee success in football, we are on the brink of a situation that will surely be unique in this club's history. "We are all excited about where Munto could take us over the next few years and there's no doubt that this is an historic landmark for our famous old club. I firmly believe Munto are the people to transform the fortunes of the club that we all care so deeply about."

The backing from the Trust was vital for the bid to move forward "They recognise that it is a magnificent opportunity to put Notts County back on the football map," said Trust chairman Glenn Rolley. akhan@thenational.ae