Northampton targeting takeover within seven days, Sky sources say
Wednesday 18 November 2015 11:37, UK
Northampton Town are confident they will have a new owner in place within the next week, but the current negotiations are "complicated" and "the only show in town", according to Sky sources.
The League 2 club are currently fighting to avoid being placed into administration and on Monday were awarded an extended period of time to agree a takeover, when a decision on a winding-up petition from HMRC for an unpaid tax bill of £166,000 was adjourned until November 30.
The current owner and chairman, David Cardoza, is in advanced talks with Kelvin Thomas, the former Oxford United chairman.
The deal, however, is complicated as Thomas has to re-negotiate the £10.25m debt owed to Northampton Borough Council (NBC) alongside his negotiations with Cardoza on the sale of the club, and a piece of land nearby that is prime for redevelopment.
NBC has also issued an administrative petition against the club that will be heard on November 27.
If they fail to reach an agreement on the sale of the club, Northampton will face being placed into administration and a points deduction.
The Northampton players and staff did not receive their wages last month, but the Professional Footballers' Association has since covered the payments to the playing squad.
