Cabinet agrees to lease surrender to kick start Sixfields redevelopment
The stalled redevelopment of Northampton's Sixfields Stadium is set to move back on track after the regularising of a lease was agreed by cabinet on Wednesday evening.
Northampton Borough Council was aiming to rectify an oversight from 2013 where too much land was handed over to CDNL, the development company formerly owned by ex-Cobblers chairman David Cardoza.
CDNL, now owned by current Cobblers chairman Kelvin Thomas and fellow director David Bower, has now surrendered part of the lease back to allow the stadium redevelopment to progress after lengthy delays.
The chairman had threatened to sell the club unless the surrender was allowed by the council.
Council leader Jonathan Nunn said: “There are no financial implications to the council. It just ensures that the lease is returned.”
He added that the council was in ‘close contact’ with both the football club and the Northampton Town Supporters’ Trust on the issue.
Speaking at the meeting, cabinet member Tim Hadland asked: “There have been statements that this sort of paperwork was stopping the redevelopment of the East Stand. Am I correct in saying there is now absolutely nothing to stop the development of the stand?"
Councillor Nunn replied: "Yes you are correct."
Northampton Town tweeted following the decision: “We are delighted that the cabinet has agreed to regularise the situation regarding the land around the East Stand. There is now some legal paperwork to be finalised, which we will work with NBC to complete.”