League One side Northampton Town has been taken over by Chinese sports company 5USport, according to SKY SPORTS. Talks between the parties have reportedly been "ongoing for a number of months" and a deal has now been finalized. Following approval from the English Football League, the sports development and education company, based in Guangzhou, has agreed to purchase a major stake in Northampton Town Ventures Ltd., which owns the majority shareholding in Northampton Town. Club Chair Kelvin Thomas, who is staying in his role, said, "This is a very exciting day for the club and is part of an overall investment strategy into the club from 5USport, which covers many areas. From our perspective, after taking over the club during those troubled times late in 2015, it has always been our intention to ensure that the club was well positioned financially. ... We have always been open about how much we had to invest but what we found, especially following promotion, was for the club to really challenge in League One and beyond it made sense to find a partner" (SKY SPORTS, 6/26). The BBC reported 5USport "agreed to purchase a 60% stake in Northampton Town." Thomas said that there will be "no change to the overall structure" of the club. But there will be investment in the playing budget for Manager Justin Edinburgh, as well as the East Stand and "other development areas." Thomas completed his takeover of Northampton Town from David Cardoza in Nov. '15 "and since then the club won promotion to the third tier" (BBC, 6/26).
