The Football League announced Tuesday it had finally accepted the ownership structure of League Two club Notts County after receiving assurances about the club’s new investors.
The club, which hired former England coach Sven-Goran Eriksson as director of football in July after a takeover by Munto Finance, came under investigation by the League because little had been made public about the new owners, most of them believed to be from overseas.
But the League issued a statement on Tuesday that the club had now complied with its regulations on fit and proper persons. It said the club had made extensive disclosure about its ownership structure.
“The structure is complicated and features both offshore entities and discretionary trusts,” the League statement said. “Together with the initial hesitation of the club’s ultimate owners to identify themselves, this made for a lengthy and at times difficult process.
“However, following greater co-operation from the club more recently, the League is now in a position to confirm that it is in possession of the appropriate details for those individuals that exercise control of the club.”
The League said it was up to Notts County to decide what ownership information it makes public.
Notts County, which has never been in the Premier League, went close to dropping out of the Football League last season when it finished 19th in the fourth tier of English football.
It made headlines after Munto Finance took over the club and hired Eriksson and is now fifth in the standings. Last week, however, the club fired manager Ian McParland and is looking for a replacement.
Eriksson, meanwhile, has rejected the possibility of taking over as coach of the Swedish national team after the resignation last week of Lars Lagerback.