Date: 24th November 2015 at 1:47pm
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Prior to the weekend the deal for Kelvin Thomas to takeover at Northampton was ‘in doubt’ and seemed to be hanging on by a thread with him ‘unsure’ if this would happen?

However, the Cobblers have now been able to announce a deal has been agreed!

On Monday the BBC reported Thomas had come to an agreement to take on David Cardoza’s controlling stake at Sixfields.

This deal, of course ‘subject to legal paperwork being completed’ should be wrapped up ahead of the administration hearing and then winding up petition, with these procedures due to take place later this week….

Regarding the £10.25m loan Northampton Borough Council are seeking a return of a spokesman said.

‘We have worked hard with Kelvin Thomas over several weeks to try to reach agreement over the debt owed to us by the Football Club and have developed a memorandum of understanding that is subject to agreement by our Cabinet at a special meeting tomorrow (Tuesday) and then to a legal agreement being drawn up.’

The Indian consortium looking to take control earlier in the season fell through; this deal doesn’t look to be going the same way!

A statement on the Official Website was also released on Monday.

This said ‘Northampton Town Chairman David Cardoza has been speaking after he announced that he has agreed to sell his controlling interest to Kelvin Thomas’ with Cardoza saying.

‘We had to iron out some wrinkles today, but the deal has been done and is just subject to getting the paperwork sorted.

‘I am delighted to be selling to Kelvin, he is a great owner for the club and I’m looking forward to seeing it progress under his stewardship.’

With Thomas adding.

‘We are very pleased that we have an agreement. It has been tough for David and Tony Cardoza because they have been with the club a long time.

‘We still have work to do with the rest of the process but working together with the Council and the lawyers we expect to get everything done in time for Friday.

‘Once again we appreciate all the support and good wishes from fans, all the hard work by the staff and players and thank David Cardoza for his kind words.’


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