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Internal audit critical of Cobblers loan

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An internal audit has found that a loan of 13.5 million pounds made to Northampton Town by Northampton Council was made too quickly, on the basis of inadequate information and with insufficient safeguards. This was partly because the then council leader and now local MP was pressing for it.  

In particular, the council failed to compare the rapid payment of tranches of the loan with the slow and stalled progress at the Sixfields stadium.

The loan is now the subject of a thorough police investigation.