Northampton Town chairman David Cardoza has admitted that he is "not surprised" by an Indian consortium's announcement that their proposed deal to buy the club has collapsed.

In June, Cardoza confirmed that a London-based group had held talks about possibly taking over the League Two outfit.

Today, the consortium released a statement, which read: "It became apparent there were a number of complications surrounding the proposed acquisition."

In response to the announcement, Cardoza told the club's official website: "I'm not surprised by the announcement, my only surprise is the timing of it. We moved on to talk to other parties some time ago. The Indian consortium had a few months to move things forward and conclude things but it became apparent they were not progressing matters.

"There are a number of other interested parties and as it became more and more apparent things were not proceeding with the Indian consortium, then we began talking with these other parties. We have made significant progress in these talks to a position where things are now well advanced."

The club have until Friday to pay a £10.25m loan back to Northampton Borough Council.