Gemcorp to back Northampton Town takeover bid

Gemcorp, a London-based investment firm led by Atanas Bostandzhiev, is set to provide financial backing for the acquisition of English fourth-division football club Northampton Town. The potential takeover is being led by the consortium Sports Alpha Capital, which includes former Brazilian international and AC Milan striker Alexandre Pato.

Evidence of a connection between the entities includes the registration of a subsidiary, Invenciveis, at the same London address as Gemcorp's offices. Furthermore, two Gemcorp senior managers, Yuri Baidukov and Felipe Berliner, are listed as directors of the company seeking to acquire Northampton Town. Berliner also serves as vice-chairman of the board for Sofia Capital, the entity through which Bostandzhiev holds a majority stake in the Bulgarian club Levski Sofia.

The proposed deal comes as Northampton Town faces financial challenges, having reported a pre-tax loss of nearly £3 million on revenues of £7.5 million in the last financial year, with total debts amounting to approximately £10 million. The transaction is subject to approval by the Independent Football Regulator (IFR) in England, a process that typically takes up to 90 days.