Northampton chairman David Cardoza has paid tribute to the progress which has been made on and off the pitch at Sixfields over the last season.Cardoza has revealed the club's operating loss for the year ending June 30, 2007 was reduced by £500,000, while boss Stuart Gray has worked wonders to mould the Cobblers into an established League One side.

"I think everyone accepts that as a club we are moving forward, but there is still plenty of room for improvement," Cardoza told the club's official website.

"We are working hard to give the town a club and team to be proud of and progress is being made."

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