Northampton Town chairman David Cardoza agrees to sell controlling stake to Kelvin Thomas

Northampton currently face both an administration and winding-up petition but it is hoped the deal with be finalised before a court hearing on Friday

Agency
Monday 23 November 2015 19:19
Comments

Kelvin Thomas has reached an agreement with Northampton Town chairman David Cardoza to buy the controlling stake in the club.

Cardoza had last week cast doubt over a deal after admitting to talks with other parties but the League Two club announced on Monday evening that a deal with Thomas, the former Oxford chairman, had been brokered.

Northampton currently face both an administration and winding-up petition but it is hoped the deal with be finalised before a court hearing on Friday.

A statement released by the club said: "Chairman David Cardoza has reached an agreement to sell his controlling stake in Northampton Town Football Club to Kelvin Thomas.

"The deal is subject to the legal paperwork being completed which is expected to happen well in advance of Friday's administration hearing.

"The club will be in a position to make a further announcement upon such completion."

Cardoza had come under increasing pressure to sell to Thomas, with the club's non-playing staff not having been paid since the end of September.

First-team manager Chris Wilder, who worked under Thomas at Oxford, used his post-match interviews at Notts County on Saturday to address the issue, insisting that Thomas' offer was "100 per cent the best deal" for the club.

The club owe Northampton Borough Council £10.25million and HM Revenue & Customs £166,000 in unpaid tax.

On Friday, the administration petition will be heard and the winding-up petition is set for November 30.

Despite all the recent off-field troubles, Wilder has guided Northampton up to third place in the table with a five-match unbeaten run in League Two which includes four victories.

ends

PA

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in