Which bit?
There is also a lot of speculation and hearsay, as exampled by what cobblersgaz59 has quoted above.
Is KT intending to surrender the land to the football club or not?
As I posted previously, the only area of land - at least to the east of the stadium - where there has been any overlap (on the leases), is the former site of the athletics stadium. I would imagine it is this parcel KT is looking to surrender back to NTFC.
There are a number of reasons NBC may look to block this move, ranging from legitimate concerns over funding local services, to petty incompetence. Unfortunately, until either side chooses to lay their cards on the table, it is irrational to declare full support for either's stance.
ETA: Interesting, I just found this: "As part of the deal, Northampton Borough Council will move forward with the development of land around the Sixfields. The club will also pay off its debt to HMRC, as well as finish works on the East Stand and develop conference facilities at the ground.
Mary Markham, leader of Northampton Borough Council, said the agreement was the only "deliverable" plan to safeguard the future of the football club.
"It is clear that if the club is to survive and have some stability, we have to find a way of repaying the debt. This deal puts us in the strongest position to ensure that the public purse is protected.
"The council will now be in control and all the proceeds will come back to us to repay the debt."https://www.insidermedia.com/insider/midlands/cobblers-reach-deal-to-slash-debtsThe above reads to me as though NBC expected to gain back full control of the land they'd previously issued leases on. Perhaps they are aggrieved Bower and KT managed to wrestle those leases from the wreck of CDNL. There again, perhaps NBC's legal team should have been a bit more savvy.