Sven-Goran Eriksson's stay at County in danger

The Magpies are looking for a cash injection to solve their latest crisis having been served with a second winding-up petition from HM Revenue and Customs.

Trembling currently controls County's finances after performing a management buy-out last month when he purchased the club for 1 from Swiss-based Middle East consortium Munto Finance.

Trembling insists talks with three prospective investors are at an advanced stage and it is understood that one party is Norwegian telecommunications giant Ludo.

Trembling admits director of football Eriksson would leave Meadow Lane should the club be unable to broker investment of between 25-50million but he is confident it will not come to that.

"When we started talking to investors we said there was always going to be a two scenario process," Trembling told Sky Sports News.

"Somebody would either come in with a lower investment of 3-5million just to keep the club sustainable and enable us to move on slowly from there, but the reality is in order to keep Sven here, and Sven's plan all along has been to take the club into the Premier League, we need a minimum of 25million investment.

"I think it's 25million to get to the Championship and probably the same again to push on to the Premier League.

"The three serious investors we are talking to at the moment are of that ilk. We are in protracted discussion with each one of them and we need one of them to get over the line and I expect that to happen.

"It would be a huge disappointment if it doesn't because we are some way down the process and if we don't get serious investors, Sven will leave.

"He's been offered jobs all the time – every day. He's one of the best coaches in world football so that is going to happen and as one of the best coaches in world football he should be paid accordingly.

"Certainly, as a football club with our operations we can't pay Sven the salary he would expect as one of the best coaches which is why a serious investor needs to come in and augment that 25-50million with a proper salary for Sven."

Eriksson's future at Notts County has long been the subject of speculation and he was linked with the national jobs at both Sweden and North Korea towards the end of last year.