Pato consortium set for Northampton Town takeover

A group led by former football star Alexandre Pato is reportedly on the verge of acquiring a controlling interest in League Two club Northampton Town, according to BBC Sport. The various investors are seen as eager to bring the struggling team back to the top flight. Sports Alpha Capital had been in conversation to purchase Colchester United but ultimately decided to abandon the plan.

Pato, 36, is not involved in the decision-making process but is a key member of the consortium. The Brazilian legend, who hung up his boots last year, enjoyed a successful five-and-a-half year stint at AC Milan where he scored 63 goals in 150 matches and claimed the Serie A title in the 2010-11 season. His second spell at Chelsea, from Corinthians, was brief but memorable, netting with a penalty in his debut match against Aston Villa.

This takeover announcement comes after Northampton chairman Kelvin Thomas announced last month that a well-funded group had come to an agreement on a proposed investment. Last season, Northampton Town suffered a relegation to the fourth tier after finishing at the bottom of the League One table. The club reported a pre-tax loss of nearly £3 million in April, but Thomas had expressed his confidence that the proposed investment would ultimately make the team debt-free.

The new owners have already bolstered the squad, appointing Chris Hogg as manager in May and signing seven new players so far in the transfer window. They have brought in striker Matty Warhurst from Manchester City and midfielder Connor Lemonheigh-Evans from MK Dons, among others.