Notts County have released a statement confirming that Ray Trew has sold the club to Alan Hardy.
Trew put the club up for sale back in February and, on Monday, the official club website said "a deal with Mr Hardy was the best option for all parties and will now work towards finalising the agreement and completing the transfer of ownership in due course."
Hardy, the owner of Nottinghamshire Golf and Country Club and a Magpies supporter, said: "I am delighted to confirm that I have reached an agreement with Ray Trew to purchase Notts County Football Club.
"This follows a series of discussions over the weekend. As part of the agreement, I will be ensuring the club is able to settle a High Court hearing scheduled for Monday.
"There is still a considerable amount of work to be undertaken in the coming days and, together with my team, we will be working around the clock to conclude our agreement and make a more formal announcement in the near future.
"I wish to emphasise my passion, desire and commitment to all Notts County supporters to drive this club forward."