Northamptonshire County Council announced on Tuesday that multi-millionaire David Ross is one of four potential new sponsors for the secondary school in Trinity Avenue, Northampton.

The others are American hedge fund millionaire Martin Finegold; Woodard schools, which owns 23 Church of England schools across the country, and the Brooke Weston Trust, which is behind the Brooke Weston Academy in Corby.

President of the Northampton NUT Sarah Ansell said: "I am appalled at the news that the county council and Department for Children, Schools and Families are contemplating David Ross as a potential sponsor for the new academy at Unity College.

"This is symptomatic of everything that is wrong with academies. Business people, religious societies and other groups not concerned with education are allowed to privatise our schools.

"They then have complete control over appointments and the governing body.

"Academies are a political initiative which has nothing to do with teaching and learning and everything to do with taking power away from local people."

In a statement on Tuesday, Councillor Andrew Grant (Con, Brackley East), cabinet member for children and young people, said the cabinet had decided to defer the academy proposal for one year but still supported the principle of academy status.

He said: "We believe it's important that the parents, staff, students and the local community have the chance to find out more about each of the candidates before any decisions are taken."

As part of the selection process, Northamptonshire County Council has asked each of the four potential sponsors to give a presentation at the school on July 1.