5 Jan 2010Notts County 'close to resolving tax situation'

Football Clubs News | Football Finance News

Notts County are confident of heading off a second winding-up petition from HM Revenue & Customs by securing fresh investment in the club.

It emerged today (January 5th) that the League Two side are still being chased by the taxman over outstanding debts, despite paying off a bill of approximately £400,000 in November.

However, the club believe that a fresh injection of cash from foreign investors will arrive in time to cover their tax obligations, BBC Sport reports.

According to BBC Five Live correspondent Pat Murphy, Notts County's director of football Sven-Goran Eriksson is close to finalising a deal with the Norwegian telecommunications giant Ludo.

Eriksson is believed to have flown to Spain to meet the company's founder Idal Vollvik at his home in Marbella last month, with talks continuing in Norway in recent days.

"I understand that negotiations are at an advanced stage with Ludo," Mr Murphy said.

The postponement of recent home fixtures has added to the financial trouble at Meadow Lane, with both the Boxing Day match against Grimsby Town and last weekend's FA Cup tie against Forest Green Rovers falling victim to the weather.

Written by Terry Mitchell

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