Nolan will take charge of the team for the Nottinghamshire derby against Mansfield Town on Saturday. Nottingham businessman Hardy finalised his purchase of the Magpies from Ray Trew on Wednesday, a deal he said was "90% heart and 10% head" because of what he described as the club's "huge" debts. Notts are still under a transfer embargo and the subject of a winding-up petition brought by HM Revenue & Customs. But Hardy, who said he feared Notts would have gone out of business had he not intervened, has promised to settle any outstanding debts.
He hoped that would happen in time for Nolan to be active in the final seven days of the January transfer window. Kevin Nolan won seven of his 15 games as Orient player-manager, drawing twice and losing six times Nolan was appointed Orient boss in January 2016 but was sacked after three months, despite winning seven of his 15 games while in charge. Nolan, who took the job after talking to former Notts manager Sam Allardyce, said: "This squad is capable of staying in the league. With my input we can start to get away from the current situation. "I do not see this as a risk. I see this as something I can build with Alan. Alan knows we have to turn this around slowly. I see this as a challenge. "I hope I can make him a successful and give him back all the faith and confidence he has shown in me."
Former Bolton, Newcastle and West Ham midfielder Nolan cannot play while the embargo is in place but said he still feels like he has something to offer on the pitch as well as off it. Hardy said: "Kevin Nolan is an outstanding leader and that is what is this football club needs. "Kevin will provide the leadership on the playing side. Not only is he a very good footballer, but when he went to Orient he had immediate success and we need to start climbing the table. "This is massive football club but it is not a successful on the pitch. These two need to be realigned."
Hardy, the chief executive of Paragon Interiors Group and owner of Nottinghamshire Golf and Country Club, said there was a "one, three and five-year plan in place" and hoped the club's debts "will be cleared by three years". He added: "The immediate priority is survival and we need to understand what the fans want. "We want the product to be right on the pitch but we also want fans to enjoy themselves while they are here. I understand that frustration and anger. "The passion and determination in this club needs to go up a few notches."
