Former Oxford United chairman Kelvin Thomas is set to announce he has taken over as chairman of Northampton Town during a press conference this afternoon.
The radio entrepreneur revealed he had agreed terms to take over as majority shareholder on Monday, stating that it would still be a number of days before all the official paperwork was completed.
But it is understood Mr Thomas and former chairman David Cardoza have now both signed a shareholder’s agreement following weeks of fraught negotiations, which nearly saw Mr Thomas step away from the deal.
Mr Thomas is set to make his first public appearance as chairman during a press conference at Sixfields Stadium at 3pm today.
The news that paperwork has been completed comes just a day before an administration petition in respect of Northampton Town is due to be heard at the High Court.
The club still owes the HMRC £166,000 in unpaid tax bills.