Sven-Goran Eriksson is close to walking away from Notts County as further turmoil engulfed the club today.
The Swede has been linked with being part of a management buy-out of the club involving executive chairman Peter Trembling but Press Association Sport understands no discussions have taken place with Eriksson regarding such a move.
Trembling is understood to be looking for new investment to back a buy-out while Notts County's owners Munto Finance have been reported by local media to have put the club up for sale.
Whoever takes over, Eriksson will only be persuaded to stay if cast-iron guarantees of major investment for the future - with the money being put up front - are provided to allow him to keep to his five-year plan to take Britain's oldest professional club to the Premier League.
Such finance is looking increasing unlikely and the presence of Eriksson is now virtually the club's only selling point.
The former England manager however feels completely let down after promises about major investment by Qadbak, the Swiss-based company that own Munto Finance, failed to materialise.
Notts County are also facing a deadline to respond to the Football League with more details about the ownership and financing of the club.
Eriksson has given the Notts County project every chance - although on a £2million-a-year deal over five years he could have earned more in management, and has hugely enjoyed the day-to-day experience of transforming the club, who are in a play-off position in League Two.
His patience is close to running out now however and he may now look to take up other offers - including one to manage the North Korea side at next year's World Cup.
The Notts County situation highlights the perils of clubs being taken over by companies based in Switzerland or offshore where there are no rules governing transparency over ownership.
Eriksson and his advisors carried out as detailed as possible investigations into Qadbak before agreeing to join Notts County and were finally persuaded after the head of a major international bank described the company as "wholly reputable".
Magpies manager Hans Backe does not think Eriksson will walk away from the club.
Backe, appointed by Eriksson in late October, believes the task facing his fellow Swede at Meadow Lane is too challenging to walk away from.
"This has been the biggest challenge for him - to build a team from League Two and take it forward - so I don't think Sven will leave," Backe told Sky Sports News.
Backe also feels that proposed new owners will not affect his position at the club or have an impact on the field.
He added: "If something happens then we will have to wait and see. If new owners are coming in then we will have to see what happens.
"It was only this morning that I have seen headlines since I have been involved and if you look at the players and the way they train I don't think it has affected them."