Peter Trembling has confirmed that he has completed his purchase of Notts County from Munto Finance.
Munto Finance depart Meadow Lane after management buy-out
Peter Trembling has confirmed that he has completed his purchase of Notts County from Munto Finance.
The Magpies' executive director had been strongly linked with a bid for the club once it became apparent that their Middle-Eastern owners were looking for a swift exit.
Munto, who only took charge at Meadow Lane over the summer, have agreed to part with their stake in the club for a nominal sum and will hand over power with immediate effect.
Trembling will continue to occupy his current role at the club, while Sven-Goran Eriksson will remain as director of football.
Chief executive Gary Townsend will be asked to join the board, with Sir John Walker remaining as the other board member.
"I would like to thank Munto Finance for the way they have conducted the sale of the club," Trembling told County's
official website.
Ambition
"They have been responsible for changing the outlook of a club which had previously finished in the bottom six of the Football League 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 and been approved by the Football League's Fit and Proper Persons Test and the sanctioning of his acquisition is not expected to be an issue.
"This is clearly an important day for the club and one which will hopefully draw a line under several weeks of speculation," he added.
"I must stress however that a great deal more still needs to be done if we are to achieve our ultimate objective of Premier League football.
"We have restructured the ownership of the football club in order to secure new and prolonged investment. We anticipate this will be an ongoing process."
