Former Rushden and Diamonds founder, owner and chairman Max Griggs has resigned as life president of the club, reports BBC Radio Northampton.
His departure is thought to be connected to the continuing argument over land at Nene Park.
Griggs gave the club, stadium and 22 acres of land to the Supporters Trust 18 months ago.
However, the Trust are now expected to hand that land over to new chairman Keith Cousins later this month.
The Trust Board revealed that should supporters vote against handing over the land, administration could follow.