UK time is: 23:13:24
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Statement From The STFC Board

Statement from the STFC Board regarding the CVA

When the CVA was structured five years ago it was envisaged that by now a new stadium would be in place. If this had taken place, as part of the agreement for the financing of the new stadium and the restructuring of the football club, the CVA would have been settled.

In recent days a rights issue has been launched to raise further funds to finance the cash shortfall that is forecast at the end of the season. This rights issue is within the holding company and not the Football Club. There will also be in the very near future a rights issue within the Football Club, thus restructuring the Football Club`s finances and creating further shares.

The Board have for some time been discussing with the administrator the requirement for a variance of the CVA. With the additional problem of this years overspend, this years payment has been, with agreement, delayed until the rights issue is completed. The Board are also taking the opportunity to see if they can include this year`s payment in the variance.

These negotiations have been ongoing for a number of months, commenced prior to the AGM, and will be concluded in the very near future.

All relevant parties have been kept informed at all times. The Board is acting in the best interests of the Football Club, and The Board are confident that we will achieve a satisfactory solution.

24th November 2006

Click here to join in the debate on the club forum.

The Journalist

Writer: Moonraker1969 Mail feedback, articles or suggestions

Date:Friday November 24 2006

Time: 2:45PM

Your Comments (oldest first)

Change to most recent first
Here we go again, this is deja vou.
Report Abuse
24/11/2006 18:56:00

true, but wait until the club announces their arrangments for clearing this. We have been here before and got out. No reason why we cant again!
Report Abuse
24/11/2006 20:10:00

yes but why are we still not learning from past mistakes instead of continually having all this bad press, once maybe a mistake but to keep happening !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Report Abuse
24/11/2006 22:03:00

This 'roller-coaster' ride is beginning to make me feel sick !! There can't be many other clubs who have to suffer this.
Report Abuse
25/11/2006 08:49:00

If we have the money like the board says we do, then why not just pay it instead of playing stupid mindless games and jepodise the club.
Report Abuse
25/11/2006 18:56:00


Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Swindon Town Articles

STFC: Swindon Show Support For Paris (Sunday November 15 2015)

The EFL Coming Soon To Swindon (Thursday November 12 2015)

STFC: Swindon Name Martin Ling Manager (Tuesday November 3 2015)

STFC: Barnsley Interested In Cooper? (Sunday November 1 2015)

STFC: Gladwin Set To Extend Swindon Stay (Saturday October 31 2015)

STFC: Swindon Give Defender Trial (Saturday October 31 2015)

STFC: Tim Sherwood To Swindon? (Sunday October 25 2015)

Stats: Swindon Town v Coventry City (Sunday October 25 2015)

Archived Swindon Town Articles

List All Vital Swindon Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

League Results (view all)

Latest Results
Swindon 2 - 1 Walsall
Fleetwood 5 - 1 Swindon
Swindon 2 - 1 Scunthorpe
Wigan 1 - 0 Swindon
Swindon 2 - 2 Coventry
Swindon 1 - 2 Oldham

League Table (view table)

Team P W D L GD Pts
17. Fleetwood 19 6 3 10 -1 21
18. Shrewsbury 18 6 2 10 -3 20
19. Colchester 19 5 5 9 -15 20
20. Swindon 19 5 4 10 -9 19
21. Oldham 19 3 10 6 -9 19
22. Barnsley 19 5 2 12 -9 17
23. Blackpool 19 4 4 11 -13 16

Swindon Town Fixtures (view all)

Breaking League News

DRFC Coventry City v Doncaster Rovers - Team News
Doncaster : 26/11/2015 20:59:01
DRFC Wellens joins Latics on loan
Doncaster : 26/11/2015 20:44:01
Thomas Gets Recalled so Blackpool Move In For West
Blackpool : 26/11/2015 17:42:01
Sports Hall Named After Joel Richards
Walsall : 26/11/2015 17:29:01
Crewe snap up defender
Crewe : 26/11/2015 16:04:00

Current Site Poll (view all polls)

Are you happy with Martin Ling's Appointment as Town manager?
Suggested By:  
Yes 50%
No 50%