Northampton Town will be due £125,000 in compensation should their manager Colin Calderwood be named the new boss at Portman Road. Calderwood's contract with the Cobblers, which runs to 2008, is understood to include a buy-out clause if the former Spurs and Swindon centre-half chooses to take another job.

The Stranraer-born ex-Scotland international is expected to return from a family holiday in the Dubai in order to speak to Town chairman David Sheepshanks and chief executive Derek Bowden within the next 24 hours.

The duo have continued talking to prospective candidates for the £300,000-a-year position in London in the early part of this week, with second interviews for those shortlisted set for next week.

Calderwood, 41, took over at Sixfields in October 2003 after a spell as reserve team boss at Spurs. His time with the Cobblers has seen two failed League Two play-off semi-finals and this season's second place and promotion to League One.

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