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Kelvin Thomas completes Northampton Town takeover

Former Oxford United chairman Kelvin Thomas has completed his takeover of Northampton Town.

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New deal to repay Northampton Town's debts to the council

Northampton Town fans on the coach heading for Tuesday's match against Crawley. Credit: ITV News Anglia

A deal is being hammered out between Northampton Borough Council and the prospective new owner of the town's football club over the repayment of a £10 million loan.

Kelvin Thomas has been in talks with the council all day. On Monday he agreed to take over the troubled club from current chairman David Cardoza.

ITV News Anglia understands that the club's multi million pound debt will be repaid by transferring development land around the stadium to the council. The should see the club avoiding moves to have it wound up.

Click below to watch a report by ITV News Anglia's Olivia Kinsley from outside Northampton Guildhall

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