Indian steel giants deny Northampton Town takeover rumours

Three weeks since the announcement that an Indian consortium was taking over Cobblers, the buyers look set to remain a mystery for the time being.
Three weeks since the announcement that an Indian consortium was taking over Cobblers, the buyers look set to remain a mystery for the time being.

Rumours that a multi-billion pound steel enterprise could be the Indian consortium buying Northampton Town have been strongly denied by a club source.

It has now been three weeks since Cobblers chairman

David Cardoza announced he had signed a heads of term agreement with an as-yet unnamed buyer.

But rumours circulating around Cobblers forums and social media suggested that the buyers could be Tata Steel, a multi-national manufacturing firm with headquarters in Mumbai as well as offices in Corby.

But a well-placed source inside the club has told the Chron there is “no truth” in the rumour.

Robert Dangerfield, who is the external communications spokesman for Tata Steel Europe also appeared to back the statement.

He said: “I know of no direct link between Tata Steel and Northampton Town Football Club.

“The company isn’t in the habit of sponsoring sports teams. Maybe very local ones with links to our steel works, but not taking them over as an entrepreneurial or business enterprise.”

The firm does have numerous sporting links in India, having sponsored its 2012 Olympics team and having founded Tata Football academy in the east of the country.

But a spokesperson for the Indian arm of the company told Indian Express sports writer Mihir Vasavda: “These are all rumours. There is no tie-up happening.”

It means Cobblers fans face more anxious waiting to find out who the new owners are.

This week a spokeswoman for Northampton Borough Council confirmed that the authority was due to meet the Indian consortium “imminently,” having loaned the club in the region of £12 million to complete a stadium development.

She said: “As the freehold owner of the stadium and the land around, we clearly have a very strong interest in understanding future plans for the Cobblers.

“The borough council is in communication with the consortium reported to have agreed heads of terms for acquiring Northampton Town.

“A meeting is expected to take place imminently and, assuming that they can agree terms for the purchase of the club, we look forward to discussions based on a positive future for the Cobblers and the protection of the public interest.”