Thomas explains why land deal with council will 'significantly' benefit Cobblers

Cobblers chairman Kelvin Thomas has explained why the deal reached with West Northamptonshire Council on the development land behind Sixfields is a good one for the club.

Northampton and WNC confirmed the agreement last week, included in which is an option for the club to purchase the freehold land alongside the stadium site for an agreed amount based on the independent valuation.

However, this option can only be exercised upon the completion of the East Stand with the funds for this being provided by the club's owners.

Cllr Jonathan Nunn, WNC Leader, said: “It has been no secret that the club has been keen to buy and develop the land around the football stadium, and a crucial prerequisite of that for the council has always been that the East Stand needs to be completed first.

“We, like Northampton Borough Council before us, were clear that no deal could be actioned until work on the East Stand was completed.

“It is also extremely important that, if we sell the land to anyone, it has to provide the best value for the people of West Northamptonshire.

“Based on the independent assessment we commissioned, we are minded to agree a deal in principle, whereby CDNL will be able to buy the land for £890,000, but only when work on the stand is finished."

Explaining why the deal benefits the club, Thomas said: "The football club never had the land as an asset but now we look at it and it's a significant asset for the club. CDNL is owned by the club.

"That was the whole point of going through all of this - to ensure the football club had assets going forward. If we have to use those assets to fund parts of the development of the club, then that's what we will do. It's a sensible approach and every club has done it.

"You look at Exeter, they are a perfect example of that. That's how they funded their new stand - they had some land with the council, they did a deal with the developer and they sold it for student housing.

"I know the people at Exeter very well and the CEO there is a good friend of mine and it's something we have talked about a lot. It's a simple process. It shouldn't be a complicated matter.

"The council have recognised that, Lambert Smith Hampton have recognised that and the club have recognised that. It's a good deal all-round. It's one of those deals you can walk away from and go 'yes, we've all done OK out of this'.

"It's important for the club to have that asset in the background because it means you can fund certain things going forward."