Third Time Around For Magpies

Notts County have been served with a winding-up petition for the third time this year, while manager John Sheridan acknowledged the players were paid late at the end of November.

Owner Ray Trew has been actively seeking a new owner for the side that was relegated to League Two in the summer and sits mid-table this season, four points clear of both the play-offs and the relegation zone in a tight division.

Trew, in charge for six years, had been in discussions with local businessman Alan Hardy, but it was claimed last week that Yankee Global Enterprises, the owners of the New York Yankees baseball side and controlled by the Steinbrenner family, were in discussions to buy the club.  The $3.2billion valued business quickly denied any interest, with the local press altering their line to say a minor shareholder of the company was the one in talks.

Joseph Molloy, who formed JAM Sports Ventures to acquire 'sports franchises' earlier this year, is reported to have quit his role with the Yankees in the late 1990's as his marriage to one of the Steinbrenner daughters ended. He subsequently returned to his role as a PE Teacher before, nearly 20 years later, launching this new venture.

Whether Molloy and his company are the cure for the ills at Meadow Lane is debatable, with the trail on news on the talks now quiet for two weeks, but the oldest Football League club is in need of new investment - and quick.