On a momentous day for Notts County Football Club, chairman Ray Trew is delighted to confirm that the club will not be placed into administration this season and that Steve Cotterill has been appointed as first team manager for the remainder of the current campaign.

With Wednesday's court appearance looming large on the horizon, Mr Trew and the board of directors were all too aware of the tight deadlines placed upon them in their bid to address the club's current financial problems and they have been working day and night since completing their takeover.

Whilst negotiations with creditors are still on-going, Mr Trew was keen to assure fans that he is confident enough in his assessment of the club's finances to announce that he can avoid the unwanted step of administration.

"It has always been our intention to avoid administration, which may have been an easier option, but would have caused considerable harm to the local companies that have shown great faith and support in this club in recent years," explained Mr Trew.

"My staff and I have been working tirelessly to not only assess the club's finances, but also to work out how best to resolve the underlying issues that exist and I am delighted to have reached the stage where I can make an informed decision on this matter.

"We now hope to move on from the troubles of the past, to focus on making Notts County Football Club a viable and attractive sporting institution once again and to build on our illustrious history to shape a brighter future for this great club."

Having made the decision to avoid administration, Mr Trew has also confirmed that former Burnley boss Steve Cotterill has been installed as manager for the remainder of the season.

"Steve Cotterill is a man that we know plenty about and who was always top of our list of preferred managers when we first took over at Notts County," Mr Trew added.

"Steve brings with him a wealth of experience both as a player and a manager and I believe that he has the pedigree to guide this club forward."

Cotterill's appointment comes following discussions with caretaker manager Dave Kevan, who had previously agreed to remain in charge if a suitable managerial appointment could not be made.

Notts County are delighted that Kevan has agreed to stay on in his previous role of assistant manager, to continue the fine work that he has done this season.

"Having spoken with Dave Kevan, it was agreed that the time was right to bring in an experienced manager to lead the team through the remainder of the season," said Mr Trew. "Whilst Dave was happy to continue in the role of caretaker manager for us until the end of the current campaign, the chance to secure Steve Cotterill's services was too good an opportunity to turn down.

"I'd like to once again thank Dave for all of the hard work that he has put in already this season and I am delighted that he has agreed to stay on as assistant manager."

Jim Rodwell, Chief Executive Officer at Notts County, was also delighted with the appointment, saying: "I know Steve well and I was delighted when he agreed to take on the role here at Notts County. Steve is a highly-motivated individual who knows how to get the best out of players and I am confident that he will bring a great deal to the club over the coming months.

"The players and coaching staff have put an enormous amount of effort into achieving their strong position in the table this season, but there is still a lot of hard work to be done and I believe that Steve's appointment, on the back of Ray's announcement today, will come as a huge boost to the club."