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Northampton Town Chair David Cardoza Agrees To Sell Controlling Stake To Kelvin Thomas

Former League Two side Oxford United Chair Kelvin Thomas reached an agreement with Northampton Town Chair David Cardoza "to buy the controlling stake in the club," according to the PA. Cardoza "had last week cast doubt over a deal after admitting to talks with other parties" but the club announced on Monday evening that a deal with Thomas had been brokered. Northampton "currently face both an administration and winding-up petition but it is hoped" the deal will be finalized before a court hearing on Friday. A club statement said, "Chairman David Cardoza has reached an agreement to sell his controlling stake in Northampton Town Football Club to Kelvin Thomas." 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." The club owes Northampton Borough Council £10.25M ($15.4M) and HM Revenue & Customs £166,000 ($250,000) in unpaid tax (INDEPENDENT, 11/23).

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