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Arabs to buy Notts County


David

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NOTTS County will have more money than they have ever had in their 147-year history if a multi-million pound Middle Eastern consortium buys the club, said chairman John Armstrong-Holmes today.

Munto Finance Ltd, which is owned by a group of wealthy investors based in the Middle East, has signed heads of terms to take over and invest in the Meadow Lane club, after talks with its shareholders.

The Supporters' Trust is the Magpies' majority shareholder, with 60.16%.

They will have to ballot Trust members on whether to accept the takeover.

Vice-chairman Roy Parker is the second-biggest shareholder in the club, with about 20%, while former vice-chairman John Mounteney and Peter Joyce each own about 10% of the club.

Armstrong-Holmes has urged all of the shareholders to vote in favour of the deal. He said: "It will be historic for the club if it goes through.

"It still needs to be finalised but we are at a very advanced stage. We have worked very hard to bring this deal together.

"We might be a League Two club but we are Notts County, we are the oldest League club in the world.

"We are a club with a rich history, and that is why we have been able to attract investment from the Middle East.

"The club board are very happy with the proposal and we have recommended it very strongly to the shareholders.

"The Trust will hold a ballot of its members because at the end of the day it's up to them to decide whether to accept the offer or not.

"I would urge the Trust members to get behind this and vote in favour of it when they get the chance. They have a chance to be part of an historic deal."

Two members of the Munto group, Nottingham-born Peter Trembling and Peter Willett, have joined the club board following a board meeting on Tuesday night.

The Trust board have also discussed the takeover and are hoping to send ballot papers out to members early next week.

[url=http://www.thisisnottingham.co.uk/football/JAH-Notts-brink-historic-takeover-deal/article-1050117-detail/article.html]http://www.thisisnottingham.co.uk/football...il/article.html

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I'm hoping they come in and turn them into the next Chelski, they will need to bring over with them their rocket launchers, those Notts chavs won't stand a chance with there pocket knives and water guns.

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