A trio of businessmen, that had been prepared to invest up to £5m in Notts County over three years, has withdrawn its original proposal.
BBC Radio Nottingham understands they now regard the figure as excessive and are considering a new approach.
Chairman John Armstrong-Holmes has previously stated the Supporters' Trust would have to give up a large part of its 60% stake to potential investors.
It is believed all three businessmen require a place on the club's board.
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