5 Jun 2009

Middle East business takes over Notts County

9:28 am on 5 June 2009

Notts County, the world's oldest football league club, have announced that a Middle East consortium has taked them over in a multi-million pound deal.

Notts, formed in 1862 but languishing in the lower reaches of the English League for many years, says Munto Finance Limited, owned by several Middle-East based businessmen, had agreed to buy the club once the usual financial diligence checks had been made.

The club, who finished the recently ended season 19th in League Two (division four), would become the fourth in England to be taken over by Middle Eastern interests following Premier League Manchester City, and Portsmouth, where due diligence tests are starting before they are acquired by new Arab owners.

Egyptian Mohamed Al Fayed has also owned Premier League Fulham for 12 years.

Despite being founder-members of the Football League in 1888, Notts County have had very little success. They won the FA Cup in 1894 but their best ever seasons in the top flight were third-placed finishes in 1891 and 1901. They last played in the top division in 1984.