Former Brazil and AC Milan striker Alexandre Pato has taken up a board position at Northampton Town following Sports Alpha Capital’s takeover of the League Two club.
Sports Alpha Capital acquired a 70 percent stake in Northampton Town Ventures Limited, which owns the majority shareholding in the club. Existing owners David Bower, Nigel Le Quesne and Kelvin Thomas will retain a combined 30 percent.
The takeover received approval from the Independent Football Regulator and the English Football League earlier this month.
Northampton said the transaction has cleared the club’s debt, following a pre-tax loss of almost £3 million reported in April.
Pato, 37, is among SAC’s investors and will serve as a director. He retired from professional football last year after a career that included 63 goals in 150 appearances for AC Milan and a Serie A title in 2010-11.
The Brazilian and fellow SAC investors watched Northampton beat Newport County 1-0 in a League Two fixture on September 5.
The ownership change has also resulted in several boardroom adjustments. Kelvin Thomas, who has been chairman for more than 10 years, has stepped down but remains a shareholder and director.
SAC representatives Joao Xavier and Tim Chamberlain will serve as co-chairmen, while chief executive James Whiting and supporters’ representative Tom Cliffe remain directors.
Jim Rosenthal and Mike Wailing have left the board and will become associate directors.
In a joint statement, Xavier and Chamberlain said SAC had “ambitious plans” for Northampton while stressing the importance of sustainability and the club’s connection with its community.
The new owners also pledged to work with supporters, staff, partners, the Community Trust and other local stakeholders to develop the club.
Northampton were relegated to League Two last season after finishing bottom of League One.
Chris Hogg became manager in May, with the club signing 13 players during the summer, including Manchester City striker Matty Warhurst.
