Former owner arrested over £10.25m Northampton loan - Sky sources

Sky sources understand former Northampton Town chairman David Cardoza has been arrested as part of a police investigation into the club's £10.25m council loan.

The arrest of Cardoza, 45, is in relation to the "use of funds" loaned to the club by the borough council in 2013.

A statement by Northamptonshire Police confirmed "a 45-year-old man was arrested at an address in Northamptonshire on Monday morning" and has now been released on conditional bail.

Northampton Borough Council loaned the Sky Bet League Two club £10.25m to complete a stadium development in 2013.

However, the proposed work was never completed and, in November 2015, police launched an investigation into "alleged financial irregularities".

Detective Chief Inspector Paul Spicer said: "This remains a very complex investigation and, as such, it would be inappropriate for us to make any further comment at this time."

Despite numerous off-field problems this season, Northampton are top of the League Two table after 27 games.