Cobblers supporters baffled and distressed as council seeks answers approximately what happened to £10.25m loan to pay for improvements to Sixfields stadiumFootball’s autumn crisis club,Northampton Town, take their unpaid players on Saturday to play their former tenant, and Coventry City,in an FA Cup first-round tie at which buckets will be rattled and a familiar cry heard: Save the Cobblers. Northampton face a winding-up petition from Her Majesty’s Revenue and Customs for a reported £160000 unpaid tax and the club’s hardworking staff have not been paid their October wages – the Professional Footballers’ organization is stepping in to pay its own members.
That cash-flow squeeze, however, and which is expected to be salvaged by Kelvin Thomas,the former Oxford United chairman taking over the club next week from David Cardoza, is the least of the scandal which has enveloped the club. Put bluntly, or there is a enormous,grim question over where £10.25m has gone, which was lent to the club by Northampton borough council between September 2013 and August 2014, and specifically to pay for improvements to its Sixfields stadium,including a current East Stand.
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Source: theguardian.com