Northampton Town are set to be taken over an Indian consortium, reports BBC Sport. 

Both parties have signed a head of terms agreement and the takeover will see owner David Cardoza sell his entire stake to the consortium.

The identities of the consortium members are yet to be disclosed but Cardoza has said the buyout has come out of nowhere.

"We've been looking for investment for a while" said the chairman and owner to BBC Sport, "more on a 50/50 sale - but the buyers have said they want to take control of everything.

"It's a bit out of the blue, but it's unquestionably in the best interests for everyone to get this deal done."

"I wouldn't be selling the football club unless I was confident it was going to the right people." he added as he believes the takeover may be completed with a month.

The Indian consortium are buying both the club and the surrounding land around the Sixfields Stadium, and Cardoza understands the new owners will invest heavily into both.

"It's a big investment for Northampton" he added. "Having these sort of people up here will mean other regeneration deals will become possible as well."

There were fears among Northampton fans that the consortium were only interested in the land but Cordoza has been quick to ease the worries they may have.

"They are definitely people who want to invest in football, otherwise they wouldn't be doing it, but they are also very interested in the redevelopment of the football club, hotel, conference centre and the land" he said.

The Cobblers finished 12th in League Two last season and manager Chris Wilder has been quick to revamp his squad this summer with seven signings so far.

Northampton fans...... What do you make to the news? Is this a good move for the club? How are you feeling ahead of the new season.... Confident? Let us know your thoughts and opinions in the comments section below!