Contingency plans have been discussed between Northampton Town’s supporters’ trust and the borough council if Kelvin Thomas’s bid to buy the controlling share in the Cobblers falls through.
While sources close to the club informed the Chronicle & Echo earlier in the week that Mr Thomas was hoping to have wrapped up negotiations to buy the League Two side by yesterday - there has yet to be an announcement by the former Oxford United chairman.
Northampton Town Football Club Supporters’ Trust released a statement this afternoon saying it has now engaged the services of an “insolvency and corporate recovery expert,” as well as co-opting new members to its board.
But the statement says that both the trust and the council have discussed a possible plan B if the Kelvin Thomas deal does not go through.
It states: “The trust and NBC (Northampton Borough Council) have also discussed what action may be required if it is not possible for the shares to be acquired by Kelvin Thomas - through a company called Northampton Town Ventures Ltd (NTVL).
“Should this proposal fall through, then the trust will work with the council and any other interested parties to find a way forward.”
While yesterday did not yield the good news many Cobblers fans were hoping for, the trust says it is having to balance the need to keep fans informed and the complicated negotiations “confidential.”
“We understand and sympathise with fans’ frustrations that there hasn’t been a great deal of information to make public to them,” the statement says. “But we would ask all fans to please consider that at these sensitive times negotiations are private – and the contents of those meetings have to be kept strictly confidential.
“The trust has to remain professional throughout this whole period, and as soon as we have been able to say anything to fans we have done so. This is something we will continue to do.
“The Kelvin Thomas deal is clearly still in progress and we are waiting for further developments. The trust hopes that any takeover is completed as soon as possible.
“We hope, given the update yesterday regarding the petition for administration, that supporters can fully understand just how complex this situation is. Our board has been working diligently with all parties to work towards an outcome that suits all of those parties.”
As well as engaging an insolvency expert, the trust has now co-opted former MP for Northampton North Tony Clarke and Kevin Simons, who has been advising the trust on legal matters, onto the board.
The trust has also appointed Larry George and James Gordon of Gordon’s Partnership LLP (Solicitors) as its lawyers.
Finally it says a number of trust board members are planning to attend the High Court on Monday for the HMRC hearing.
The statement says: “The trust, by asking Northampton Borough Council to object to the hearing – which it will alongside the petition for administration – has done everything in its power to ensure that the hearing will be adjourned.
“The final decision however, ultimately lies with a judge.”