Notts County chairman Ray Trew has taken sole ownership at Meadow Lane and relinquished interest in Nottingham Rugby club.
Meanwhile, both Jason Brewer and Luke Jones have resigned from their positions as directors at County and will now focus only on the rugby club.
"Both Jason and Luke have been instrumental in not only helping to secure our takeover of the club (Notts County), but also in ensuring it has continued to go from strength to strength since that time," Trew said in a statement.
"Everyone associated with Notts County owes both of them a debt of gratitude for their efforts in taking this club forward but having discussed the situation at length, it was agreed that this move would be best for all parties.
"Both Notts County and Nottingham Rugby are ambitious organisations that have made an incredible amount of progress in recent years.
"This move has been made solely with a view to continuing that advancement and ensuring that both clubs can continue to pursue their targets of sustained growth and progression.”