The Chief Executive of Northampton Town, James Whiting, has revealed that the player’s salaries may not get paid in time due to the club’s bank account being frozen.
However, things are looking up for the club after it has recently been revealed that Kelvin Thomas, former Oxford United chairman, plans to take the club off the hands of current Northampton chairman, David Cardoza.
Mr Whiting has told the press that the sale will only go through if Mr Thomas is able to do a deal with the council over the £10.25 million loan, which was used to develop Northampton’s Sixfields ground and to build the new East Stand, a Hotel and a Conference Centre. None of these are yet to be completed.
In recent weeks, HM Revenue & Customs have sought a winding up petition from the club, and it has been alleged that Northampton owe the business £166,000.
A council spokesman has recently said that “We note the outline of a deal to acquire the Cobblers is reported as having been agreed. The council will consider any proposal with due regard to its responsibility to protect the public purse”.
At a public meeting on Monday, Mr Whiting also issued the following statement. “We were asked a direct question about whether the players and staff would be paid on Friday. The situation is that because of the ongoing uncertainty it is likely that the wages will be paid late this month.
Northampton skipper Marc Richards also said that “These are difficult times, but we will all stick together, we appreciate being told face to face and we will help each other through this”.
Northampton can take two directions from here on in. They can either forge forward with selling the club and hope David Cardoza can come to the rescue or they can scrap some cash together and hope for the best. But the future is looking bleak for the club. If David Cardoza doesn’t buy the club, then how do Northampton get out of their current crisis?