A consortium including Alexandre Pato has had its proposed shareholding acquisition of Northampton Town approved by the Independent Football Regulator and English Football League, the club have said.
Former Chelsea, AC Milan and Brazil striker Pato is an investor at Sports Alpha Capital, "a football-focused investment group" with "a strong connection between Brazil and the UK."
Pato was at his best during a near-six-year spell with Milan where he won the Serie A title in 2010-11. In 2016 he scored on his Chelsea debut but managed just two Premier League appearances. His return to English football is set to be as an investor.
Northampton chairman Kelvin Thomas said: "As one of the first football clubs to be considered under the new regulatory framework, the proposed investors have been required to successfully navigate both the EFL clearance and IFR approval processes.
"This has been a detailed and rigorous process, involving significant scrutiny of the proposed investment, the ownership structure, financial sustainability, and the suitability and financial standing of those involved.
"The successful completion of both the IFR and EFL processes represents an important milestone for the club and should provide supporters and stakeholders with further confidence in the proposed investment and the foundations being put in place for the club's future.
"We would like to thank both the EFL and the IFR for their professionalism, diligence and thoroughness throughout their respective processes.
"During this time, we have also enjoyed getting to know the investors and principals behind Sports Alpha Capital and are excited about what they can bring to Northampton Town.
"As supporters will see from their varied backgrounds, there is a genuine passion for football within the group. A number of the investors have already visited Northampton, spent time at the club and attended matches.
"They will bring a strong blend of football, corporate and financial expertise to the club and with significant Brazilian representation within the group we also hope they might bring a little Brazilian excitement and flair with them.
"Now the regulatory processes have been completed we move towards completing the remaining documentation and finalising the investment. Full details regarding the investment, structure and the principal investors involved will be announced upon completion.
"We thank the fans for their patience, but it is reassuring that these in-depth processes are in place for football."
