A consortium including former Brazil and AC Milan forward Alexandre Pato is set to buy a majority stake in League Two side Northampton Town, BBC Sport understands. The takeover marks a significant moment for the Cobblers, who were relegated to the fourth tier last season after finishing bottom of League One, and follows chairman Kelvin Thomas confirming last month that investment from a "well-funded" group had been "pretty much agreed".

The consortium, Sports Alpha Capital, previously held initial talks over a takeover of Colchester United earlier this year before pulling out of that deal. Pato, 36, who retired from playing last year, is understood to be involved but not fronting the group; he scored 63 goals in 150 games during a five-and-a-half-year spell at AC Milan and also had a loan stint at Chelsea in 2016. Northampton posted a pre-tax loss of just under £3m in April, with the proposed investment expected to make the club debt-free, while new manager Chris Hogg has already signed seven players this transfer window.