There seems to be a lot more to the Cobblers plight. Most of what I've picked up is from the excellent Hereford Bulls' News site where the latest report is that the club will miss this month's wages payments:
Bulls News: Cobblers Set To Miss Wage Payments
The council has reportedly paid the club £10.5m but little of that has gone to to company building their stand. And their chairman's development company has gone into liquidation. Administration beckons?