More than 40,000 supporters are to be asked whether if they want to buy into a new fundraising campaign, which aims to secure the acquisition of Newcastle United Football Club (NUFC).

The 'Yes We Can' initiative has been launched by the Newcastle United Supporters' Trust (NUST) in a bid to buyout the owner of the Coca-Cola Championship club, sportswear tycoon Mike Ashley. As part of the first stage of a six-week campaign, the trust plans to open a new advice centre in the city centre, unveil high-profile backers and kick-start an advertisement campaign.

NUST spokesperson Mark Jensen said: "We've been in discussions with people in the city and beyond, and they have thrown down the gauntlet to supporters to lead the charge. We've been obsessed by protest but this is the ultimate protest. "There are a range of ways to invest but fans can be sure that it will be on a 'one investor, one vote' basis with fans electing six fans representatives through the trust and a president who will bring in a professional team accountable to the fans ultimately."

Meanwhile, Southend United Football Club (SUFC) has confirmed that it has settled a tax dispute with HM Revenue and Customs (HMRC) after it paid £2.1m to stave off the threat of administration. SUFC had been due to appear before London's High Court in relation to an unpaid tax bill, which could have forced the club into administration, but HMRC will no longer pursue the action following the payment.

It has also been announced that HMRC will not be pursuing its court action to seek the winding up Notts County Football Club (NCFC). NCFC executive chair Peter Trembling said: "The club has resolved its dispute with HMRC and HMRC is not proceeding with its application for winding up."

Elsewhere, Derry City Football Club (DCFC) chair Pat McDaid and three other board members have resigned from the club after it was expelled from League of Ireland competition by the Football Association of Ireland (FAI). In a statement, the FAI confirmed DCFC's expulsion after claiming it had evidence that players had been handed second, unofficial contracts and that the club had breached clauses in its Participation Agreement.

Following the FAI's decision, McDaid said: "It's my view that it would not be in the best interests of this football club for me to continue in light of the stance taken by the FAI. "Without prejudice to all that has happened, or allegedly happened, Derry City Football Club must survive and I feel, despite my desire to remain and be part of a solution to move this club forward, that the best interests of the club are being served by this decision."

The club's players have admitted holding dual contracts, but in a statement, added: "As soon as the players became aware of the situation, we have immediately agreed to set the record straight and we wish to have nothing to do with this wrongdoing. "We are deeply distressed at this turn of events and we wish to distance ourselves entirely from the board's conduct."

League of Ireland Division One club Kildare County Football Club has announced that it has gone into voluntary liquidation.