League Two: Chris Wilder to join Northampton as Oxford accept compensation package
Chris Wilder has moved closer to taking charge of Northampton after formally resigning from his post at Oxford United.
Last Updated: 27/01/14 7:35am
Oxford chairman Ian Lenagan revealed on Saturday Wilder had quit, but the manager's representatives quickly dismissed the claim as premature.
Now the news is official, and Sky sources understand he will be confirmed as Northampton boss on Monday.
A compensation package between the League Two clubs has been agreed, bringing to an end Wilder's five years at the Kassam Stadium.
Lenagan said: "First and foremost we thank Chris for five years of service. He has worked very hard and helped move the club from the Conference to becoming an established League Two side.
"We are grateful for his efforts on behalf of Oxford but disappointed that he chose not to continue to the end of this season's journey.
"Today the formalities were completed to allow him to move on. The other club involved have acted professionally throughout the process and the two clubs have agreed a compensation deal that is satisfactory to Oxford United."
"The club has already started a thorough, professional search and interview process for the next permanent manager."
Wilder leaves with Oxford four points off the top of League Two and joins a Northampton side four points adrift at the bottom.