Northampton Town have taken a significant step towards a change in ownership after confirming they have reached an agreement with a consortium that includes former AC Milan, Chelsea and Brazil striker Alexandre Pato regarding a proposed shareholding acquisition at the League Two club.
The group, known as Sports Alpha Capital (SAC), had already seen its proposed takeover bid cleared by both the Independent Football Regulator (IFR) and the English Football League (EFL) earlier this month, clearing a major regulatory hurdle before formal terms could be finalised with the club.
In a statement released by Northampton, the club indicated that it anticipated being able to confirm the completion of the process within the coming week, suggesting that the deal is now in its final stages.
Club chairman Kelvin Thomas acknowledged the lengthy nature of the process but expressed enthusiasm about the progress made. "Football club transactions always have many moving parts and often take a little longer than you would hope, but we are thrilled to be moving forward," Thomas said.
Joao Xavier, a founding partner at Sports Alpha Capital, echoed that sentiment, highlighting the significance of securing the necessary approvals before reaching a formal understanding with the club. "We are very happy to have reached formal agreements. Obviously obtaining IFR and EFL approvals was a big step, but this is also a very important milestone, and we look forward to closing next week," Xavier said.
The move towards Northampton comes after Sports Alpha Capital's interest in a different EFL club failed to materialise into a deal. The consortium had held discussions earlier this year about a possible takeover of Colchester United, but ultimately withdrew from those talks following preliminary discussions.
According to information published by SAC, Pato is listed as one of the investors involved in the consortium, alongside Gemcorp Capital, an independent investment management firm based in London. The exact scale of the shareholding SAC is set to acquire at Northampton has not yet been made public.
Pato, 37, brings a recognisable name to the world of football club ownership following a playing career that included a lengthy spell in Italy. He is perhaps best remembered for his time at AC Milan, where he spent five and a half years and scored 63 goals in 150 appearances, helping the club to the Serie A title during the 2010-11 season. The Brazilian forward retired from professional football last year, closing out a career that also saw him represent Chelsea and his national team.
Should the deal reach completion as expected, it would mark a new chapter for Northampton Town, a club currently competing in League Two, as it looks to secure fresh investment and backing under new ownership involving figures with significant footballing pedigree.
With regulatory approvals already secured and formal agreements now in place, attention turns to whether the transaction can be finalised in the coming days, as both the club and the investment group have signalled their intent to bring the process to a close in the near future.
Based on reporting from BBC Sport Football.