BREAKING: George Akhtar agrees to sale of Kettering Town
Owner George Akhtar has agreed to sell Kettering Town to former players Brad Piercewright and Craig Norman.
After months of speculation, open forums, official offers, firm refusals and denials, the club finally announced on Tuesday night that 'an agreement has been reached in principle' to sell the club.
That process will now go through the legal process.
The statement was released on the Kettering Town website and read: "Kettering Town Football Club is delighted to announce that an agreement has been reached in principle for Brad Piercewright and Craig Norman to take over the ownership of the football club.
"Following a period of constructive discussions between all parties, an agreement has now been reached that provides a clear pathway towards the next chapter in the history of Kettering Town Football Club.
"The parties would like to express their sincere gratitude to one another, and to everyone who has worked professionally and constructively behind the scenes to help bring discussions to this positive position.
"The transaction will now move through the formal due diligence and legal process.
"Subject to the satisfactory completion of those matters and the necessary documentation, the parties are working towards completing the change of ownership by the end of the year."
The sale will bring to an end Akhtar’s eventful spell as owner at Latimer Park, after he took over in May, 2024.
"I would like to thank Brad and Craig for the way discussions have concluded, as well as everybody who has helped us reach this point,” said Akhtar.
"There remains an important legal and due diligence process to complete, but I am delighted that we have reached agreement in principle and can now work together towards the next chapter in the history of Kettering Town Football Club.
"...if Brad and Craig deliver the investment and vision they have outlined, it would represent one of the most significant commitments to Kettering Town FC in its history and give the club the opportunity to achieve things that simply have not previously been possible.”
A joint statement issued on behalf of Piercewright and Akhtar read: “We would like to sincerely thank George for the constructive way in which we have ultimately been able to bring these discussions together.
"All of us share one fundamental objective: we want what is best for Kettering Town Football Club.
"We recognise the responsibility that comes with taking ownership of a football club with the history, identity and passionate support that Kettering has.
"Our ambition is to build upon those foundations, invest significantly in the club and create something that supporters and the wider community can be proud of for many years to come.
"There is still important work to complete through due diligence and the legal process, and we will respect that process. However, today represents a significant and extremely positive step forward.”
All parties are delighted to have reached this stage and will now work together to ensure that the transition is handled professionally and with the best interests of Kettering Town FC at its heart.
"While the formal process continues, the immediate focus remains firmly on supporting the manager, players, staff and everyone working throughout the club.
"Further updates will be provided at the appropriate stages as the transaction progresses.”
The announcement came as the Poppies were about to take to the pitch for their latest Pitching-In Southern League Premier Central fixture, at Rushall Olympic, on Tuesday night.