The future of Notts County has been secured after the club confirmed they have found a new investor to pay off all debts. The Coca-Cola League Two club announced on Tuesday that the investment had been secured, subject to contract and due diligence, and would cover all existing club debts.

The details of the investment have not been revealed and the identity of the investor will remain confidential until the contract is signed.

County faced the prospect of finding £2million by Wednesday to prevent the club going out of business.

The Magpies were due in the High Court on Wednesday after the club's owners Blenheim 1862 were served a winding-up petition from HM Revenue and Customs over an unpaid tax bill.

Executive chairman Peter Trembling and director of football Sven-Goran Eriksson have been searching Europe for investment since completing a management buyout at Meadow Lane in December.