Kelvin Thomas completes Northampton Town takeover
Former Oxford United chairman Kelvin Thomas has completed his takeover of Northampton Town.
Former Oxford United chairman Kelvin Thomas has completed his takeover of Northampton Town.
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
After weeks of takeover talks, this afternoon former Oxford United Chairman completed his takeover of the Cobblers.
A deal has been struck to save Northampton Town Football Club from an administration and winding-up petition.
Northampton Town manager Chris Wilder has pleaded with the club's current chairman to sell to former Oxford United owner Kelvin Thomas.