Plans to loan Northampton’s two largest sports clubs millions of pounds to expand their stadiums have been approved by Northampton Borough Council’s cabinet.
During a debate at the Guildhall tonight which lasted just 10 minutes, the leaders of the council approved a deal which will see the Cobblers loaned up to £12 million to expand Sixfields and the Saints loaned a further £5 million to expand Franklin’s Gardens.
The leader of the authority, Councillor David Mackintosh (Con ,Rectory Farm) said: “This is a major step forward for the town and something the people of Northampton have told us quite clearly they want to see happen.
“I think it’s a very good step forward for Northampton and it’s something I’m pleased to be able to deliver.”
While still chairing the cabinet meeting, he also tweeted: “Cabinet has approved loans to @ntfc and @SaintsRugby to improve the stadiums. We are delivering for Northampton.”
The opposition at the Guildhall however sounded a note of caution over the two deals.
The leader of the Liberal Democrat group, Councillor Sally Beardsworth (Lib Dem, Kingsthorpe) said both loans should be investigated by a council scrutiny committee to make sure no mistakes had been made while they were being drawn up.
She said: “It would be sensible to refer this to scrutiny to let people have a look at it and make sure all the i’s have been dotted and the t’s crossed. just to make sure no mistakes have been made before we go ahead.”
She was supported by Councillor David Palethorpe (Lab, Billing) who agreed the deal should be scrutinised to make sure it would not be open to legal challenge.
Councillor Brendan Glynane (Lib Dem, Delapre & Briar Hill) also expressed concerns about the fact the athletics track next to the Sixfields stadium would be redeveloped.
He said: “There’s little said in the council papers about where the athletics club is going to be moved to. The town needs to know where these facilities are going to go.”
Responding to the opposition concerns, Councillor Mackintosh pledged that a new home for the athletics club would be found and said he would personally monitor the loan deals with the council’s chief executive and legal officials to make sure no mistakes were made.
The Cobblers deal will see the east and west stand at Sixfields majorly redeveloped by August 2014
A range of new facilities will also be created at the ground, including a conference centre, 100-room hotel, a gym and offices.
The redevelopment will see the stadium expanded to a capacity of about 10,000. A total of 300 new houses will also be built on land close to the football ground.
At Franklin’s Gardens, a new north stand will be built to replace the current Sturtridge Pavillion.
The development, which will start in the closed season of 2014 and be finished by autumn 2015, will increase the ground’s capacity from 13,591 to 15,500.
Both loans will make use of a Government-backed scheme which allows the council to borrow the money at a very low interest rate.