Indian consortium close to completing takeover of Northampton Town

Indian consortium close to completing takeover of Northampton Town

League two side Northampton are set to be taken over by a consortium of Indian owners, who are not only interested in redeveloping in the club but also the surrounding areas.

Chairman and owner David Cardoza, who owns the club as of now, looks set to all his stake in the club.

Cardoza talking to BBC Radio Northampton said:

"We've been looking for investment for a while, more on a 50-50 sale - but the buyers have said they want to take control of everything," said Cardoza.

"It's a bit out of the blue, but it's unquestionably in the best interests for everyone to get this deal done."

The identities of the consortium members have yet to be disclosed.

"I wouldn't be selling the football club unless I was confident it was going to the right people."

"They are definitely people who want to invest in football, otherwise they wouldn't be doing it. But they are also very interested in the redevelopment of the football club, hotel, conference centre and the land.

"This is a very positive move for Northampton and I'm sure the fans over time will be delighted," he said.

The announcement comes amid a lack of progress on the redevelopment of the East Stand at Sixfields, which began last year.

And Cardoza said the takeover was one reason why the work has been held up.

"It's all connected. We haven't been able to say too much, but there's been an awful lot going on in the last few weeks," he explained.