Hardy, the chief executive of the Paragon Group, is understood to be one of several businessmen or groups interested in the club, which was put up for sale by Ray Trew last month.
Taking to Twitter last night, and responding to a fan who used Notts County's Twitter handle saying "sort it out", Hardy said: "I wouldn't hold your breath".
When another supporter tweeted "oh no", Hardy continued: "Sorry, I did my best. But sometimes you just have to accept that your best just isn't good enough."
Hardy is the only potential buyer who had made public his intention to take control of Notts, but he reportedly hit a stumbling block over the club's asking price.
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