Chris Wilder appears poised to become the new manager of Northampton Town after the Cobblers announced they have agreed compensation with his former club Oxford United.

Wilder, 46, resigned as Oxford boss on Saturday after five years in charge and has been targeted by Northampton, who have been without a permanent manager since the sacking of Aidy Boothroyd on December 21.

A statement on Northampton's official website, www.ntfc.co.uk, on Sunday night read: "Northampton Town have been given permission to speak to Chris Wilder about the vacant manager's position at Sixfields.

"The club have agreed compensation terms with Oxford United and Oxford have confirmed that Wilder has terminated his contract."

Northampton are four points adrift at the bottom of Sky Bet League Two while Oxford are sixth in the same division.