A consortium that includes former AC Milan, Chelsea, and Brazil forward Alexandre Pato has received approval for its proposed shareholding acquisition of Northampton Town from the Independent Football Regulator (IFR) and the English Football League (EFL). The League Two club confirmed the approval, marking a significant step in the investment process. The group, known as Sports Alpha Capital (SAC), had previously explored a takeover of Colchester United earlier this year but withdrew after initial discussions. SAC has named Alexandre Pato as one of its key investors, alongside Gemcorp Capital, a London-based investment management firm. While the exact size of SAC's proposed shareholding in Northampton Town has not yet been revealed, the club stated that full details about the investment, its structure, and the principal investors will be shared once the deal is finalized. This announcement brings an end to months of speculation, as the club had first revealed its talks with the "well-funded investment group" in April. Alexandre Pato, 37, retired from professional football last year. He is best known for his time at AC Milan, where he played for five-and-a-half seasons, scoring 63 goals in 150 matches and helping the team win the Serie A title in the 2010-11 season. Northampton Town's chairman, Kelvin Thomas, emphasized that the approval from the IFR and EFL represents a major milestone for the club. He thanked the regulatory bodies for their thoroughness and noted that the investors, who come from diverse backgrounds, have shown a genuine passion for football. Some have already visited the club and attended matches. The deal comes at a challenging time for Northampton Town, which suffered relegation to the fourth tier last season, finishing bottom of the League One table. The club has yet to record a win in the 2026-27 season. In April, Northampton announced a pre-tax loss of nearly £3 million. Thomas has stated that the proposed investment will help the club become debt-free. Recent developments include the appointment of Chris Hogg as manager in May and the signing of 13 new players during the summer transfer window, including striker Matty Warhurst from Manchester City.