KELVIN & CO GAIN COBBLER CONTROL
KELVIN Thomas completed his takeover of Northampton Town on Thursday.
The former Oxford chief is now executive chairman at Sixfields Stadium, after David Cardoza and father Anthony sold their stakes.
Thomas paid the £166,000 owed to HM Revenue & Customs ahead of a winding-up petition hearing, which HMRC is now looking to withdraw.
The consortium now in charge also includes David Bower, who becomes a director, and Mike Wailing, who becomes a non-executive director. It was also confirmed that overdue staff wage payments from October would be paid in full next week.
Thomas said: “We have the funds in place to take care of the short and long-term needs of the club which has been shown to both council and the Football League.”
The club was also set to face an administration petition on Friday brought by Northampton Borough Council, but that was adjourned after an agreement was reached over a loan payment previously made to the club.
The deal will see the debt wiped out with the council in return acquiring land near Sixfields for development.
BACK: Kelvin Thomas