Stags owner Keith Haslam has been in protracted talks to sell the club for the past 18 months and is set to issue a formal response in the next 72 hours.

"On Friday morning I had two very productive meetings. The first meeting involved a prospective buyer, Keith Haslam and I. During the course of this meeting a proposal for the buy-out of the club was put forward and was well received," Booth told the club's official website.

"Mr Haslam is now consulting his various professional advisors with regard to the detail and I am anticipating a formal response within the next 72 hours.

"Following this meeting, Keith and I met with non-executive chairman (Tony Egginton) to discuss the future of the club. Once again this was a very productive meeting and all parties agreed that they would work together in an attempt to ensure the rejuvenation of the club."