A winding up order issued against the club, facing non-league football for the first time after relegation from the Football League last season, was dismissed by the High Court on 13 June after it settled its outstanding debts.

Orient owed around £35,000 to the London Borough of Waltham Forest in relation to the rental of Score Centre, a community centre opposite the Matchroom Stadium. They also had an outstanding debt of £18,664 to Central Circle Event Management Ltd in relation to the supply of matchday stewards. Orient also owed their club photographer £6,000. All creditors on the petition have now been paid in full, with HMRC debts having already been paid.

In March, Orient was granted a stay of execution by the High Court to pay off its debts or sell by 12 June or face another winding up order.

The petition was issued to the club on 2 February by HMRC, but at the winding-up hearing held at the High Court, club owner Francesco Becchetti was given the extended deadline to meet the club’s obligations.

At the time, then-chief executive Alessandro Angelieri gave the court a statement saying Becchetti would invest £1m to pay off remaining debts in eight to 10 weeks.

In April, it was revealed players and staff had not been paid.

Becchetti said in January he would consider selling his 40% stake in the club, which he acquired in 2014.

New ownership

Travis will serve as the chairman of the club board of directors. Other directors will include principal investor, Kent Teague from Dallas, Texas. Orient added that in ‘recognition of the fact that fan partnership is critical to the club's success’, there will be a fan representative on the board.

Travis and the new management groups are also working to recruit an experienced chief executive, who will be responsible for the day-to-day commercial management of the club. In the interim, future consortium investor, Marshall Taylor, a local businessman and long-time Leyton Orient fan, will serve as interim chief executive.

Becchetti said: ‘I invested a great deal in the club in good faith and have delivered the club to Nigel Travis and his consortium without any debts to the banks, without arrears for taxes and salaries and in a normal situation with its suppliers.

‘This is a position from which it can grow. Over the last two years, I have, unfortunately, not been able to dedicate myself to following the Club as closely as I would have wanted. This is clearly the moment to leave the Club to others and I know that in doing so I am leaving it in good hands with Nigel Travis. I give my sincere best wishes to the fans and to the Club for a bright future, full of success.’

Orient endured a dreadful season in 2016/17 ending in relegation from the Football League after a 112-year stay. The club finished the season bottom of League Two, with 36 points from 46 games and a goal difference of -40, having won just 10 matches in the league. As recently as 2014, the club was in the League One Play Off Final for promotion to the Championship, but lost to Rotherham United on penalties after a 2-2 draw.

The club was founded as Glyn Cricket Club in 1881 and changed its name to Leyton Orient after the Second World War. It is the second oldest London-based club.