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Cobblers' takeover is off

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It's been one of the most protracted and secretive takeover negotiations in recent football history, certainly in League 2, but negotiations with a mystery Indian consortium that wanted to take over Northampton Town have now been called off.

According to a statement from the London-based consortium, they encountered 'insurmountable' problems and complications at the due diligence stage.

They stated, “We believed – and still believe - that the club has huge potential. It has been starved of investment for too long and it was our intention to put this right."

“We had drawn up detailed plans to pay off the club’s debts and upgrade the club’s infrastructure, re-developing the stadium and building a new training ground, as well as investing in the playing squad. We also planned to re-develop the land around the stadium with a new hotel and retail complex to bring inward investment into the town."

The takeover has been a source of considerable frustration for Cobblers fans, but the chairman, David Cardoza, is now going to 'move on elsewhere'.  Quite where is not clear, perhaps to a service station on the M1 to meet another unidentified group of buyers.

Apparently, according to tweets from Cardoza, the Indians abandoned pole position some time ago and talks are now at an advanced stage with other parties.   Where they are from, or who they might be, remains to be seen.

If I was a Cobblers fan, I wouldn't know whether to laugh or cry.