Missing £10.25m Cobblers loan and redevelopment to be discussed at cabinet...in private

Another meeting on the council's bid to recover the funds loaned to Northampton Town Football Club will be held behind closed doors.
Another meeting on the council's bid to recover the funds loaned to Northampton Town Football Club will be held behind closed doors.

A missing £10.25m loan to the Cobblers will be discussed once again by councillors next week, but behind closed doors.

Northampton Borough Council loaned the sum to Northampton Town Football Club so that it could redevelop Sixfields Stadium.

But the funds were subsequently ‘misappropriated’, leading to a police investigation and the borough council trying to regain the funds.

But the issue is set to be debated privately at next Wednesday’s cabinet meeting (June 13), with members of the press and public excluded as it is anticipated that information contained within the report ‘will be sensitive in nature’.

The authority was criticised by members of the public for holding a similar private discussion over the loan back in April.

A further agenda item discussing the issue of land leases at Sixfields in regards to the botched redevelopment will be open to the public however.

The borough council and football club have been embroiled in a war of words over whether lease issues have held up the redevelopment of the club’s East Stand.

Cobblers chairman Kelvin Thomas said that delays from the council to allow the surrender of land had forced his hand to ‘reluctantly’ put the club up for sale.

But the borough council has said that any redevelopment had been ‘very much within the gift of the football club’.

The cabinet meeting is due to start at 6pm at The Guildhall.