Timeline set out for investment deal - and how it could impact summer transfer plans
Any incoming investors at Northampton Town are unlikely to have an immediate impact on this summer’s transfer budget as they seek approval from football’s governing bodies, something which may take up to two months.
Chairman Kelvin Thomas says a deal between the people involved could be signed off within the next two weeks, however all potential new owners and investors must then be approved by both the EFL and the recently introduced Independent Football Regulator (IFR).
"We expect everything to be agreed from our side in the next couple of weeks and then it'll be taken out of our hands and it'll be with the authorities,” said Thomas on the Cobblers show. “New owners or investors have to be approved by both the EFL and IFR.
"Those processes could take another four, six, eight weeks. It's not going to be in the next couple of weeks and we have no control over that process. We saw with the Sheffield Wednesday deal that it can take a long time, and once it gets to the EFL and IFR, we can't do much about the timeline.”
Thomas has warned against expecting a sudden jump in transfer budget should the deal go through, instead suggesting this is something that will grow over time.
"In my opinion, this is something that will build,” he added. “I want to temper expectations if people think we're suddenly going to be in the £10million budget range. It isn't a Wrexham where we'll be spending fortunes and putting the club at risk. We will be sensible. The people that have been identified will definitely add to the club and have the ability to take it forward."
The process of recruiting players for League Two will start in earnest once a manager is appointment, regardless of the off-field situation, and that could be as early as next week.
"Once the manager comes in, we will start signing players,” confirmed Thomas. “We'll still have a competitive budget, as we always have done in League Two,
"New owners or investors can't have any say until they are approved by the EFL and IFR. We can't control those process so we can't wait for that. The investment won't dictate the decisions we make in the immediate future but it's more looking to the long-term and we will definitely be in a better place if it all goes through.”