The Independent Football Regulator has approved Atanas Bostandjiev, Hugh Strange, and Adam Wible as new owners of Northampton Town Football Club, the English League Two side. Bostandjiev serves as chief executive of Gemcorp, the emerging markets asset manager that first disclosed an offer for the club in April, making this one of the IFR's longest approval processes to date.

Wible is a co-founder of Brazil's Nubank, the US-listed Latin American fintech powerhouse with a $75bn market value, while Strange is a former Nubank VP of Product. The investors are grouped as Sports Alpha Capital, a single-asset fund dedicated to acquiring and managing a UK football club. Alexandre Pato, the former Brazilian international, is a board member.

NTFC chairman Kelvin Thomas said the club is now finalizing the deal and expressed hope the Brazilian investors would bring "excitement and flair." Details of ownership stakes and financing have not been disclosed. Meanwhile, Bloomberg reported Gemcorp has opened an office in Caracas and is exploring Venezuelan oilfield investments, stretching from the Orinoco Belt to the East Midlands.