BREAKING: Cobblers reach agreement with consortium to complete takeover
Northampton Town have reached a full agreement with the investment group Sports Alpha Capital (SAC) to proceed with their takeover of the club.
SAC, a Brazilian-UK investment group featuring Alexandre Pato, were given the green light by both the Independent Football Regulator (IFR) and EFL earlier this month, and the process is now in line to be completed next week.
A club statement on Friday afternoon confirmed: “Following the recent Independent Football Regulator and EFL approvals being received, Northampton Town Football Club are pleased to confirm that agreement has been reached with UK/Brazilian investment group Sports Alpha Capital regarding a proposed shareholding acquisition.
“The necessary paperwork is now being circulated to the relevant parties, and the club and SAC expect to be in a position to confirm completion of the process next week.”
Details of the deal regarding the percentage of the club that SAC are purchasing, among other things, are expected to be confirmed once the deal is officially completed, which should be next week.
Chairman Kelvin Thomas added: “As we always said, we will keep supporters updated as we progress and we are pleased that we have finalised agreements and now move to closing.
“Football club transactions always have many moving parts and often take a little longer than you would hope, but we are thrilled to be moving forward.
“We all saw the excitement and enthusiasm from both the supporters and Sports Alpha themselves when Pato and others from the group were at the Newport game, and we think that excitement will just build.”