Consortium pull out of deal to buy League Two club Northampton Town

An Indian consortium has pulled out of a deal to buy League 2 club Northampton Town, according to BBC Sport.

Northampton won’t be getting bought out just yet

The plans for the takeover were announced four months ago but now, representatives PHA Media are claiming that the Indian consortium have pulled out of the running to take over the Cobblers.

The money injected by the consortium would have massively helped to pay back a loan to pay the Northampton Borough Council, which was taken out to help cover the funding for the development of the stadium.

The consortium claimed: “It became apparent that there were a number of complications surrounding the proposed acquisition. Sadly, at a very late stage in the process we concluded that these problems were insurmountable and, with great reluctance, decided we had no option but to withdraw our offer for the club.”

Northampton are a club in desperate need of a financial takeover and a large cash injection into both off-the-pitch matters and the playing squad, would have been a good way to kickstart their progress and boost them into League One.

The club currently sit just outside the play-off zone in League Two, in eighth place, having accumulated 21 points from 12 league games so far this season.

Northampton Town fans….. What do you make of this news? Gutted? Let us know your thoughts below!