London: An Indian consortium is set to take over lower division English football club Northampton Town, who play in League Two.
A heads of terms agreement has reportedly been signed between current chairman-cum-owner David Cardoza and the buyer.
The buyout will see Cardoza sell his entire stake. "We've been looking for investment for a while, more on a 50-50 sale - but the buyers have said they want to take control of everything," Cardoza was quoted as saying in 'BBC Sport'.
He added, "It's a bit out of the blue, but it's unquestionably in the best interests for everyone to get this deal done."
The identities of the consortium members have yet to be disclosed, the report said. Cardoza, who believes the takeover could go through within a month, though added that he would ensure the club goes to the right people.
The consortium are buying both the football club and land around the Sixfields ground. Cardoza allayed fears that the consortium were just interested in the land around Sixfields and not in the football club, which finished 12th in League Two last season.
"They are definitely people who want to invest in football, otherwise they wouldn't be doing it. But they are also very interested in the redevelopment of the football club, hotel, conference centre and the land.
"This is a very positive move for Northampton and I'm sure the fans over time will be delighted," he said.