Ex-Brazil striker Alexandre Pato part of group set to buy majority stake in Northampton Town
The proposed takeover has cleared checks by both football's new regulator and the EFL
A group set to buy a majority stake in Northampton Town has cleared its regulatory checks, with former Brazil striker Alexandre Pato among the investors backing the deal.
The League Two club confirmed that both the Independent Football Regulator and the English Football League have completed their approval and clearance processes in relation to the proposed shareholding acquisition by investment group Sports Alpha Capital.
Pato, who played for AC Milan and Chelsea and retired from playing last year, is one of the investors behind the consortium.
Who are the investors?
Sports Alpha Capital is described as a football-focused investment group set up to bring long-term capital, operating expertise and a hands-on approach to club ownership.
The group brings together experience across professional football, private equity, finance, business and media, with a connection between Brazil and the UK.
Full details of the investment, its structure and the principal investors involved will be announced once the deal is completed.
What the club said
Northampton Town chairman Kelvin Thomas said the club was one of the first to be considered under the new regulatory framework.
"This has been a detailed and rigorous process, involving significant scrutiny of the proposed investment, the ownership structure, financial sustainability, and the suitability and financial standing of those involved," he said.
"The successful completion of both the IFR and EFL processes represents an important milestone for the club and should provide supporters and stakeholders with further confidence in the proposed investment and the foundations being put in place for the club's future."
Thomas added that a number of the investors have already visited Northampton, spent time at the club and attended matches.
"They will bring a strong blend of football, corporate and financial expertise to the club and with significant Brazilian representation within the group we also hope they might bring a little Brazilian excitement and flair with them," he said.
The chairman said the club would now move towards completing the remaining documentation and finalising the investment.