The Northampton Town Supporters’ Trust board met on Thursday evening shortly after a series of public announcements by Kelvin Thomas, David Cardoza and Northampton Borough Council (NBC).
The Trust was disappointed to hear that a takeover deal is now ‘hanging by a thread’ just a week before the club faces an Administration hearing on November 27.
The Trust would like to repeat its commitment to working with any credible buyer that might be serious in their intent to take over the club, and thereby avoid an administration scenario that would see a 12 point deduction.
Over the past six weeks, the Trust has had little contact with David Cardoza.
Mr Cardoza had advised us nearly three weeks ago that he had entered into an exclusivity agreement with Kelvin Thomas for the sale of the club.
As a result the Trust has been unable to review the accounts and assess the financial position of the club. It is therefore something of a surprise to learn that the chairman is in talks with other interested parties about whom we have no knowledge.
We have met with Northampton Borough Council on several occasions over this same period following the motion passed at the Extraordinary Full Council meeting on November 2, and we remain in contact with Kelvin Thomas.
As Mr Thomas stated yesterday, it is increasingly unlikely that any other party could complete all the necessary due diligence required before the hearing.
Should Kelvin's takeover bid fall through; the Trust has been working with its advisers and other potential local investors on a fallback option, which has been shared with the Borough Council.
However we have not been able to access the club's full accounts, so it is therefore difficult to see how we could put this plan into action in the time available.
Yesterday we were once again reminded of the impact that this is having on the staff at the club, both on and off the field.
It's hard to imagine how troubling this must be for those staff and their families as we approach Christmas and the festive season.
Mindful that playing staff have been paid via the PFA, the Trust board has decided to set aside £10,000 to create a hardship fund to support the non-playing staff.
We shall be in touch with the club to agree the details and the most pressing individual needs.
We should stress that the fund will be repayable to the Trust if and when a takeover is complete, but for now the immediate priority is to support the staff in this desperate situation.
We know this is a distressing time for fans, but please continue to support the staff, players, management and your fellow fans as you have done so magnificently over the last few weeks.
