A spokesman for Ray Trew has confirmed that the former Lincoln City chairman is the new owner of League Two outfit Notts County. Trew has therefore taken over and as a result former England manager Sven-Goran Eriksson is understood to have left his position as director of football at the County Ground.
Jim Rodwell, a spokesman for Trew, told skysports.com: "We are very proud to be the new custodians of Notts County Football Club.
"It has always been our ambition to be owners of a football club and none better than Notts County.
"The club has been through a lot lately and we want to get the club back on a stable footing.
"The players and fans have been fantastic this season with everything that has gone on and we want to bring some stability to the club.
"Once we bring stability to the club we will see where we can go from there."
The new owners have also offered their backing to caretaker boss Dave Kevan for the job he has done since the departure of Hans Backe.
"We have not spoken to the manager yet, but he has done a great job since he took charge and we want to continue that this weekend," said Rodwell.
"I am sure we will sit down and talk to him and see what he wants to do and then take it from there."
Trew told The Times: "I am absolutely certain I can do something with this club. But I might upset a few fans. The problem with this club is that it has been living beyond its means and that cannot go on.
"We have to build a club here that is secure for the future generations and that means we will have to make some serious decisions."