The former Sky Sports presenter was another high-profile appointment by the League Two club.
However, Lorenzo left the club on Wednesday, primarily because he has received sponsorship for a new television programme he is due to present.
Upon Lorenzo's arrival, Notts County acknowledged he would continue to produce and present his own sports chat show, On The Line, which airs on Sky Sports, in addition to his duties at the club.
Instead, he has resolved to concentrate on his television career and leave what he had initially described as his 'dream job.'
The news of Lorenzo's departure comes on the same day the takeover of the club by Munto Finance is to be examined by the Football League.