Eleven years ago Northampton Town were facing a winding-up petition. On Wednesday they announced they are debt-free and under new ownership, with a former AC Milan and Brazil forward joining the board. Sports Alpha Capital have completed their takeover of the League Two club, and Alexandre Pato is one of the names on the investor list.
The shape of the deal
SAC take a 70% shareholding in Northampton Town Ventures Limited, the company that holds the majority of shares in the club. The existing owners, David Bower, Nigel Le Quesne and Kelvin Thomas, keep 30% between them and stay on as shareholders and directors. The Independent Football Regulator and the EFL both approved the proposal earlier this month, so Wednesday's announcement was the paperwork catching up with a decision already made.
Northampton say the deal leaves them without debt. That matters more than it sounds. In April the club posted a pre-tax loss of a little under £3m, which is a heavy number for a fourth-tier side, and clearing the balance sheet is the sort of thing that decides whether a club spends the next three years building or firefighting.
Who is now in charge
Joao Xavier and Tim Chamberlain of SAC become co-chairmen. Pato joins as a director. Chief executive James Whiting stays, as does supporters' representative Tom Cliffe. Jim Rosenthal and Mike Wailing step off the board and become associate directors.
Kelvin Thomas steps down as chairman after more than a decade, having led the rescue in 2015 when the winding-up petition was live. He called it "an enormous privilege". Xavier and Chamberlain went with the language most new owners reach for, saying they were "extremely proud to become custodians of a club with such a rich history, passionate supporter base and important place within its community", and adding that "ambition must go hand in hand with sustainability". They have promised more detail on what they actually intend to do. Supporters will judge them on that rather than the statement.
Pato, and what comes next on the pitch
Pato is 37 and retired from playing last year. Milan is where he made his name: 63 goals in 150 matches across five and a half years, and a Serie A title in 2010-11. He was also at Chelsea, briefly. He and his fellow investors, who include the London investment management firm Gemcorp Capital, watched Northampton beat Newport County 1-0 at Sixfields on 5 September. SAC had looked at Colchester United earlier this year and walked away after early talks.
The football side is less romantic. Northampton finished bottom of League One last season and went down. Chris Hogg was appointed manager in May and brought in 13 players over the summer, among them striker Matty Warhurst from Manchester City. Money and a clean balance sheet help. Neither of them wins matches in League Two.
Takeover facts: Sports Alpha Capital acquire a 70% shareholding in Northampton Town Ventures Limited; David Bower, Nigel Le Quesne and Kelvin Thomas retain 30%. Approved by the Independent Football Regulator and the EFL in September 2026, completed 30 September 2026. Northampton reported a pre-tax loss of just under £3m in April 2026 and say the deal leaves the club debt-free. Alexandre Pato, 37, joins the board as a director.
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