Understand
Northampton Town land used to clear club's £20m debt
Overview
The former chairman of Northampton Town, Kelvin Thomas, has revealed that development land next to the club's stadium was sold to a company controlled by the GRS Group to completely clear the League Two club's £20m debt. The new consortium owners, Sports Alpha Capital, did not include the 19-acre warehouse development in their recent takeover deal.
Key points
- Northampton Town's former chairman Kelvin Thomas confirmed land next to the stadium was used to clear the club's £20m debt.
- Consortium Sports Alpha Capital took over the club last month but did not purchase the 19-acre development land.
- The land was sold to Neneside, a company controlled by the GRS Group.
- Some of the club's debt was also written off by the previous owners as part of the arrangement.