Northampton Town chairman: Indian consortium buyout collapse came as ‘no surprise’

David Cardoza said the news the Indian consortium was pulling out of the Cobblers deal came as no surprise.

David Cardoza said the news the Indian consortium was pulling out of the Cobblers deal came as no surprise.

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Northampton Town chairman David Cardoza has reacted to the news the Indian consortium has pulled out of buying the club by saying: ”they gave up on pole position a while ago.”

Earlier this afternoon, a spokesman for the mystery consortium announced it would be halting plans to buy the club because of “insurmountable” complications involved in the takeover.

Currently the already in debt club needs to pay back a £10.25 million loan to Northampton Borough Council by Thursday, while its East stand remains in a half finished state.

In response, Mr Cardoza said supporters should not be surprised the consortium pulled out, but added talks with another set of mystery buyers were in the advanced stage.

He said: “I’m not surprised by the announcement, my only surprise is the timing of it.

“We moved on to talk to other parties some time ago. The Indian consortium had a few months to move things forward and conclude things but it became apparent they were not progressing matters.

“There are a number of other interested parties and as it became more and more apparent things were not proceeding with the Indian consortium, then we began talking with these other parties.

“We have made significant progress in these talks to a position where things are now well advanced.

“Northampton Town is a wonderful football club with huge potential, that is why there are other parties interested in buying the club and while the Indian consortium remained in the background in reality we moved on some time ago.

“Their announcement today concludes matters in that area but they had given up pole position a while ago. This simply concentrates our efforts on concluding a sale of the club to one of the other interested parties.”

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