Northampton Town's owners have "reluctantly" put the club up for sale after a dispute with the local council. In April, chairman Kelvin Thomas described Northampton Borough Council as "an immovable force" after plans for a new development at Sixfields stalled. Responding to Thomas' comments, the council said it would continue to work "privately" with the club. "We feel we have little choice but to step aside and allow others to complete the process," Thomas said on Wednesday. "We are confident there is still a really good opportunity for the club's wider development." Northampton will play in the fourth tier next season after being relegated from League One in 2017-18. In a club statement, Thomas continued: "Financially we are in a strong position to open conversations about the shareholding of the club. "It is important to make clear that we will continue to support the football club as normal during our ownership and the existing budget does not change in any way and this will be a competitive budget for the league next season. "The club has always been stable financially under our ownership and this will continue, and we will complete any discussions in a professional manner. "We have always tried to be as open as possible with supporters whilst trying to advance matters regarding the East Stand in the background with the council and we are firm in our commitment that we will put the club first, but it is now with a heavy heart that we have reached this point as we feel we have been left with no choice." The missing £10m loan In 2013 Northampton Borough Council provided a £10.25m loan to redevelop Sixfields but the money went missing and the work was never completed. In December seven people were interviewed for offences such as money laundering, including Howard Grossman, whose company managed the project and received most of the money. The company, 1st Land Ltd, went into liquidation owing millions to contractors. Grossman denies any wrongdoing, while a police investigation into the missing loan remains ongoing. The BBC revealed in April that the council has spent more than £1m unsuccessfully trying to claw back the loan. https://www.bbc.com/sport/football/44223738
A sorry tale to be sure. If robbers walked into a bank or a Jewelers and walked out with £10 million the case would be all over the news for weeks on end. Yet that staggering amount of tax-payers' money can just go missing during a dodgy deal around developing part of a football ground. And this business about part of the ground being leased out when it was already leased out - that makes no sense whatsoever. It all smells of sleaze and corruption. And as usual it's the fans who suffer. Honest folk who pay out of the little they earn for the love of their Club. Does the EFL have anything to say about this? Surely the well-being of Northampton Town FC is at least of a passing interest to them?
