Notts County executive chairman Peter Trembling has today completed his takeover of the League Two club from Munto Finance.
Trembling has paid a nominal fee to the Middle Eastern consortium only five months after they took control at Meadow Lane and revealed Sven-Goran Eriksson will stay on as director of football.
Magpies chief executive Gary Townsend will be asked to join the board of directors and John Walker will stay on as a director.
Trembling said: “I would like to thank Munto Finance for the way they have conducted the sale of the football club.
“They have been responsible for changing the outlook of a club which has previously finished in the bottom six of the Football League for four times in the past five years.
“Now we cherish ambitions to secure promotion this year and deliver sustainable progress into the Championship and beyond.”
Trembling has already passed a Football League fit and proper person test and revealed he will be seeking new investment.
He added: “This is clearly an important day for the club and one which will hopefully draw a line under several weeks of speculation.
“I must stress, however, that a great deal more still needs to be done if we are to fulfil our ultimate objective of Premier League football.
“We have restructured the ownership of the football club in order to secure new and prolonged investment and we anticipate this will be an ongoing process.”