Northampton to be sold to Indian Consortium

[LordJord]

Well the police are going to be investigating cardoza which is completely justified following a complaint from NBC. I believe in regards to the debt kelvin Thomas has agreed a repayment plan if sorts with NBC however I think i correct in saying the council now have the surrounding land back in their possession. The land was previously cardozas to develop as he had an agreement with the council, I think they now have that back and as such could develop it to help repay the funds. All will become clear in due course I assume. As for now I'm just happy everyone gets paid, we still have a club to support and hopefully this sustains our push for an automatic spot!

 

[mowgli]

Just read that the police have opened an investigation over financial irregularities over the 10 million quid loaned by the council,i imagine someone will be in the shit probably Cardoza.

 

[EricSabin]

Paying back the council money was the sticking point. The fact that the deal has gone through shows me they've come to a compromise about the whole thing.

 

[ThisTinpotLeague]

Yeah, fine, but it's over now isn't it? It's not like he sent you back down to non league, or shagged all your wives, or wiped his arse on the Oxford badge, he just underachieved for a couple of seasons and then left. The lingering resentment some of you seem to have towards Wilder and the possibility that we might actually like him is just really weird, lots of time has passed and you're doing well now with a manager you're happy with, and so are we, move on.

Totally agree (and also the fact that he got us promoted does outweigh the rest for me) but this sentiment about it being a long time, best for both parties etc etc does go both ways.

See plenty of comments from Northampton fans saying "Oxford are totally wrong about Wilder" which really does invite a correction on our part. There's not really any need to bring up the two together, as we are both happier with how things are.

Always liked Thomas too. No idea how effective or essential he is to things, but a good face to put in front of fans. Hope it all sorts out for you lot.

 

[HertsCobbler]

I am assuming the deal with council is that they write off the loan in exchange for having the rights back to develop the land beyond the athletics track and perhaps they have a sense that this police action may lead to a confiscation order.

Whilst I am relieved this has gone through, it is key that KT's partners in crime reveal themselves and he respects the views of the fans and Supporters Trust.

 

[eric read]

I am assuming the deal with council is that they write off the loan in exchange for having the rights back to develop the land beyond the athletics track and perhaps they have a sense that this police action may lead to a confiscation order.

Whilst I am relieved this has gone through, it is key that KT's partners in crime reveal themselves and he respects the views of the fans and Supporters Trust.

Now that is the interesting bit to me. Who are Kelvin Thomas' backers? I have a feeling that some of us at Oxford are going to know them once they reveal themselves!?

 

[HertsCobbler]

Now that is the interesting bit to me. Who are Kelvin Thomas' backers? I have a feeling that some of us at Oxford are going to know them once they reveal themselves!?

We know already that David Bower is involved. Suspect that given KT is based in the States he may have got some funding from USA!

 

[eric read]

We know already that David Bower is involved. Suspect that given KT is based in the States he may have got some funding from USA!

I don't think Bower has got that kind of money. I hope for your sake his backer isn't a sock less, toupe wearing, ex footballer, with mining interests in Guinea or you will be 100 times more fucked than you are now!!!! And said individual was last heard of evading his creditors in the USA and is a friend of Kelvin Thomas.

Just saying.............

 

[Southern Shayman]

A) If the takeover goes through, no. His big mate is meant to be taking over.

B) I love the bloke. Every endorsement he came with from Oxford has been proven wrong.

One of the big ones was boring/defensive/direct football. Absolutely bollocks, we've played some of the most entertaining football I've seen at Sixfields in the last decade. We go after teams at home, and come flying out of the bollocks, and going forward we really are great to watch.

He's good at spotting players, picking players up no one else wanted (Holmes, Jason Taylor etc) and making them integral parts of our team.

He's also really engineered a massive bond between the fans and players, and always says what people are thinking. He's quickly becoming one of our most popular managers.

In short, I love the bloke and would be devastated for him to leave, but I don't think it'll happen.

Edit: Forgot the main point, his ability to triumph through adversity. When he joined we were stranded massively, but he saved us in a dramatic escape. And now with all the off the field shite he's led us to 1 defeat in 10 league games, and an upset in the cup. Nominated for October manager of the month (which he really should have won) and getting performances like he has with the stuff we are going through is a huge testament for the man.

What has Wilder done wrong in a past life?! His second club that's been in dire financial straights and an unfinished stand!

He won't walk away though - he stuck by us in absolutely shocking circumstances and had other offers.

 

[Oxon]

I don't think Bower has got that kind of money. I hope for your sake his backer isn't a sock less, toupe wearing, ex footballer, with mining interests in Guinea or you will be 100 times more fucked than you are now!!!! And said individual was last heard of evading his creditors in the USA and is a friend of Kelvin Thomas.

Just saying.............

Well, as you know, American funds are mentioned on the Oxford forum by someone who is itk. Some interesting detail on that thread.

http://yellowsforum.co.uk/thread/22052/northampton-shi?page=17#page=16

 

[LordJord]

@ChronandEcho: The club's £10.25m debt will be 'transferred' to the development land around Sixfields...leaving the club free of the debt...
To repay the debt the council will develop the land alone.

Another HUGE piece of news.

 

[Pooliekev]

Makes sense with Cardoza being involved with a bankrupt developer, which is apparently where the cash went.

It'll be interesting to see where the outcome of the police involvement goes.

 

[Trapdoor]

wait so the council gives you money - some guy steals it then the council has to develop scrubland around the ground in the outskirts of town to "get the money back"?

that doesnt sound right?

 

[LordJord]

wait so the council gives you money - some guy steals it then the council has to develop scrubland around the ground in the outskirts of town to "get the money back"?

that doesnt sound right?

They have confirmed they will be pursuing cardoza for the money. Just means it's not the clubs responsibility now which is fair enough. Not like we got to see it used at all.

 

[EricSabin]

http://www.bbc.co.uk/news/uk-england-northamptonshire-34911469

First revelations coming out. Can't wait for it all to spill out, this is definitely just the start

 

[LordJord]

http://www.bbc.co.uk/news/uk-england-northamptonshire-34911469

First revelations coming out. Can't wait for it all to spill out, this is definitely just the start

Agreed, there will be dirt on all parties dig up here. Looking forward to it.

 

[LordJord]

Press conference at 3 to confirm takeover completed.

 

[EricSabin]

Thomas confirms he's the new Chairman and that HMRC have been paid in full

 

[Sergei from IT]

You are now in the hands of a man removed from his post at Oxford because of his dishonesty.
Good Luck

 

[EricSabin]

Another off the field boost, it's been confirmed this afternoon former chairman and professional c*** David Cardoza has been arrested in relation to the loan received.

 

[GeneralLee]

Deservedly so.

Off topic, I tend to read snippets of this forum and had previously looked on from afar during the TFF days. Nonetheless take this with a pinch of salt (and it is by no means meant to ruffle feathers!), I recently had a conversation with a fairly senior figure formerly of OUFC and local business person in the Oxfordshire area. I'm told that the buyout of NTFC could have part been financed by Mr. Kassam due to his past ties with KT...

Not sure if that rumour has been banded around in Northampton?

 

[Nelza82]

We heard it mentioned when KT was first discussed, again just as a passing rumour.

The problem is we don't take much notice of stuff that comes from Oxford anymore as we've heard so much over the last few months that have turned out to be untrue.

I'm not questioning what you're saying btw, some Oxford fans do try to ruffle feathers with rogue rumours specifically about NTFC so we are always sceptical.

Who knows who's involved, in the names in the public domain, Kassam isn't one of them. Doesn't mean he hasn't stumped up cash though...

I guess until things go tits up we will never know!

 

[LadyWomble]

Ignoring Oxford's (not all, I know) spat with Cobblers, delighted to see Cardoza has been charged and hope he gets what's coming to him. Ditto some of your councillors from what I've read. Too much to hope for?

 

[Nelza82]

We can only hope that those in the wrong get what they deserve.

The problem is that it's such a tangled web, which makes it almost impossible for fans to decipher who is in the wrong, who is in the right and who has been taken for a ride.

There's a group of people that are involved and they're all linked, Cardoza being one of those. Luckily for us he is no longer at the club and I guess we should be grateful that in terms of running the football club he did it by the book or we could have been hit with penalties.

Shame he thought he could screw over the local council though.

I'd say looking at the facts in the public domain that Mr Grossman will be sitting uncomfortably.

The councillors I think are probably okay, can only go by the public facts though. David Mackintosh is probably the one with most to worry about due to the money paid to him by Grossman & pals and him 'forgetting' to declare it.

Honestly, I'll be glad when it's all over. It's died down a lot in terms of it being linked to the football club which is great news for us.

Something lots of outsiders misunderstand is that the club never once benefited from the whole sorry episode. The simplest way of explaining it is that the council lent the club £10m to expand the stadium etc but before we got to do that the money was transferred out of the clubs accounts and into another account.

That's why the police are involved in the investigations, someone has basically nicked 10m (give or take).

 

[Deepcut Cobbler]

Ignoring Oxford's (not all, I know) spat with Cobblers, delighted to see Cardoza has been charged and hope he gets what's coming to him. Ditto some of your councillors from what I've read. Too much to hope for?

Just to confirm, Cardoza hasn't been charged yet, only arrested, although I expect that will follow along with a few other 'bigger' fish involved in this. Some, if not all, of them have already been mentioned.

 

[Luton Cobbler]

Yes, we can only hope that Cardoza and his band of merry men get what's due, although I don't expect this to happen quickly. It's a very complicated web that will take time to untangle. Oh how I'd love to be a member of the Jury when / if this gets to Court. Think I might be seen as having an interest though!!

 

[LordJord]

http://www.bbc.co.uk/news/uk-england-northamptonshire-35403724

Seems like the full truth is a little closer to being revealed. Not sure how they thought they would get away with it. I know we are not the brightest lot In northampton but even I know that £10 million for one less stand isn't a great deal.

 

[Nelza82]

How on earth did they ever think they'd get away with it all!!!!!!

Ridiculous.

 

[EricSabin]

It's genuinely unbelievable. Like no one is gonna notice that £10m has gone missing.

 

[BeesKnees]

Something lots of outsiders misunderstand is that the club never once benefited from the whole sorry episode. The simplest way of explaining it is that the council lent the club £10m to expand the stadium etc but before we got to do that the money was transferred out of the clubs accounts and into another account.
That's why the police are involved in the investigations, someone has basically nicked 10m (give or take).

That news article suggests £1.5m stayed in the clubs accounts.

That this was allowed to happen is really appalling and it is unbelievable that only 491k reached the builders.