Northampton Town have been taken over by the British-Brazilian consortium Sports Alpha Capital (SAC), with former AC Milan, Chelsea and Brazil forward Alexandre Pato among its investors.
Pato will also join the club’s board as an investor and board member. The deal was confirmed by Northampton just a few months after SAC withdrew from proposed discussions to buy fellow League Two club Colchester United.
Under the agreement, existing owners David Bower, Nigel Le Quesne and Kelvin Thomas will retain a combined 30% shareholding, according to the BBC.
SAC representatives Joao Xavier and Tim Chamberlain will become co-chairmen of Northampton Town.
In a joint statement, Xavier and Chamberlain said they were “extremely proud to become custodians of a club with such a rich history, passionate supporter base and important place within its community”.
They added: “We have ambitious plans for Northampton Town, but ambition must go hand in hand with sustainability and an understanding of what the club means to the people of Northampton and Northamptonshire.
“We want the club to continue to be a source of pride within its community and will work closely with the Community Trust, supporters, staff, partners and local stakeholders to ensure that relationship continues to grow.
“We are looking forward to spending much more time in Northampton, listening to supporters and working together to help the club realise its potential both on and off the pitch.
“This is the beginning of a long-term commitment from Sports Alpha Capital to Northampton Town Football Club, and we are incredibly excited about the journey ahead.”
Northampton said further information about SAC, the club’s new board and its plans would be announced in due course.
The club added: “Further details regarding Sports Alpha Capital, the new Board and the future plans for Northampton Town Football Club will follow.”
Northampton’s first match since the takeover will be against Cambridge United in the EFL Trophy next week, as the club begins a new era under its new ownership.