Northampton Town say they`ll fully co-operate with a police investigation into a loan the club received from the Borough Council.
A warrant was served at Sixfields Stadium yesterday to secure documents relating to the issue.
Police say they took action after receiving a formal complaint from the local authority relating to alleged financial irregularities surrounding the lending of the cash to the Cobblers.
Below is the police statement issued ot Connect FM:
Northamptonshire Police can confirm that we have received a formal complaint from Northampton Borough Council.
This relates to alleged financial irregularities surrounding the loan made by the council to Northampton Town Football Club.
In response, a team of officers served a warrant at Sixfields Stadium in order to secure any documentation which may be relevant to the investigation.
The football club is being fully co-operative at this stage.
This is likely to be a complex and challenging inquiry and it would be inappropriate to comment further at this stage.
Meanwhile, Chairman David Cardoza has sold the controlling stake in the club to former Oxford United chairman Kelvin Thomas.
The deal is subject to the legal paperwork being completed which is expected to happen well in advance of Friday’s administration hearing.