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Swindon Town Hit With Transfer Embargo

Swindon Town manager Paolo Di Canio told the press after the game that the club is currently under a transfer embargo.

Financial Fair Play rules state League One clubs must limit their wage and fee bill to 65% of their turnover.

The club were under this amount until a tribunal ruled the club must pay a combined £340,000 to Shrewsbury Town and Exeter City for the services of James Collins and Troy Archibald-Henville.

Swindon thought half the amount was due right away and the other half was due at the end of next season.

Di Canio told the press the embargo could hinder his plans to give the club back to back promotions, Paolo told the press, 'I worry that the plan I had 16 months ago has changed. If we want the team to go up we have to cancel the embargo.'

Meanwhile Town chairman Jeremy Wray has said that it is nothing for the fans to worry about, 'I don't think it's a situation where fans need to be panicked', Wray said.

Wray explained the situation to BBC Wiltshire follwing Town's 1-0 away win, 'If they had been straight-forward transfers then half of it would have been payable this year and the other half would have been payable in 12-months' time.

'As a result of the tribunal the whole amount is due now, so it's reflected in our wage cap and it takes us around 1.5% over the threshold.'

Town are set to clear the balance shortly it is understood so the club can continue their assault on League One.

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The Journalist

Writer: SN1 Red Mail feedback, articles or suggestions

Date:Saturday October 6 2012

Time: 7:34PM

 

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