NOTTS County last night insisted the departure of manager Ian McParland was for ‘‘footballing reasons’’.

McParland, who spent eight years with the Magpies as a player in the 1980s, was sacked despite County lying fifth in Coca-Cola League Two, just four points behind leaders Bournemouth.

The club are unbeaten at home this season but that was seemingly not enough to satisfy the grand ambitions of Swiss-based Middle East owners Munto Finance, who took over at Meadow Lane in the summer.

Rumours had linked director of football Sven-Goran Eriksson with an exit amid claims he had become frustrated with the uncertainty over the club’s ownership, but it was McParland who departed following a meeting with executive chairman Peter Trembling.

A statement from Trembling on the club’s official website read: ‘‘Everyone at is genuinely sorry to part company with Ian.

‘‘It is an inescapable fact that the hopes and ambitions of the football club have been totally transformed in the past few months.

‘‘Up until this summer the club’s principal objectives had been financial survival and maintaining its status in the Football League.

‘‘Now we have a five-year project to deliver sustainable success to the club and our focus is to reach the Championship and beyond.

‘‘As a board of directors, for footballing reasons we felt a need to make a change to the current situation.’’ County have yet to announce who will take charge of first-team affairs for Saturday’s trip to Rotherham.

Speculation is already rife regarding McParland’s successor, with the likes of Eriksson, Roberto Mancini, David Platt and Alan Curbishley among those linked with the post.

Trembling’s statement continued: ‘‘Appointing a new football manager is arguably one of the single most important decisions that a football club can take, regardless of whether they are in the Premier League or in non-league football.

‘‘Our next appointment is going to be extremely vital to the project we are endeavouring to deliver here.’’