New Notts County owner given time to settle football club's tax debt
Notts County FC has been thrown a lifeline following news that a new owner is taking over.
An application by HM Revenue and Customs to have the club wound up was adjourned on Monday at London's High Court until February 6 to give local businessman Alan Hardy time to settle the club's outstanding tax debt.
The move followed hot on the heels of an announcement that current owner Ray Trew has agreed after protracted negotiations to sell the club and his 100% stake to Magpies supporter Mr Hardy.
How much the taxman is owed was not revealed in court, but other creditors supported the adjournment.