Notts County in talks with family member of former New York Yankees owners

Sky sources say negotiations are progressing well between Notts County and a consortium led by a member of the billionaire family who used to own the New York Yankees baseball team.

Joseph Molloy is understood to be heading the consortium - he was managing partner of the Yankees for a decade.

He is also the son-in-law of George Steinbrenner, the man who owned and ran the US Major League Baseball club for 37 years until his death six years ago.

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A spokesperson for the Yankees told Sky Sports News HQ on Monday that neither their current owners, Yankees Global Enterprises, nor the Steinbrenner family itself, is involved in the deal.

There is still no official word from Notts, although we understand a takeover could be agreed before the end of the month.

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Notts County are currently eighth in Sky Bet League Two, just outside of the play-off places on goal difference after a 4-0 defeat to Blackpool at the weekend. They take on Boreham Wood in the first round of the FA Cup on Tuesday night at Meadow Lane.