Chinese firm buys 60% of Northampton Town
5USport are a Chinese sports development and education firm and now hold a majority sharehold of the club. However, Kelvin Thomas, chairman of Northampton Town, has revealed that the day-to-day running of the Cobblers would remain the same and that it is “an investment” rather than a takeover.
Thomas, who completed his takeover of Northampton from David Cardoza in 2015, will continue as chairman of the club.
Thomas continued: "A takeover would tend to mean 5USport were coming in to take over, but they're not. We're working as partners and the structure of the club will stay the same, I'm staying on and the directors are staying."
He did, nevertheless, confirm that there will be an increased investment in the playing budget and a proposed redevelopment of the Sixfields Stadium’s East Stand will be undertaken.
Tom Auyeung, chief executive of 5USport, added: "We have been looking at partnering with an English football club for about 18 months now. We have looked closely at others, but none ticked as many boxes for us as Northampton Town. We are very excited to be able to agree this partnership with David Bower and Kelvin Thomas over the past few months, and we thank them for their professionalism and honesty throughout this process."
He added "We are not looking at making any changes in terms of the staffing.”