Council review into Cobblers’ loan

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Council review into Cobblers' loan

Northampton Borough Council’s launching a review today – of the loan it gave the town’s football club.

An internal investigation will look at the policies and procedures in place when the Cobblers were given £10.25 million for improvements in and around Sixfields.

Auditors and the police are also investigating where the money went.

Through the memorandum of understanding agreed with the club s new owners, the debt owed to the club by 1st Land Limited transferred across to the borough council. This means the council now has control of the land development and the pursuit of the debt.

The Audit Committee meeting is held in public, at 6pm on today (Monday 18 January) at the Guildhall.

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