BBC News
Published
image captionNorthampton Town's East Stand remains unfinished
The leader of a council whose £10.25m loan to a football club went missing has apologised for the "woeful and disappointing way" it was granted.
Northampton Borough Council's Jonathan Nunn was speaking at a full council meeting which discussed a public interest report into the loan.
The Tory-run authority loaned the money to Northampton Town in 2013 and 2014 to rebuild a stand and develop land.
Mr Nunn said processes to protect public funds had been "lacking".
The KPMG report, published in January, said the loan had "serious failings".
image captionBorough council leader Jonathan Nunn had not been a member of the cabinet when the loan was agreed