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