Vital Football

Latest Swindon Town News

Statement From The STFC Board

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.

Writer:Moonraker1969
Date:Friday November 24 2006
Time: 2:45PM

Comments

0
Here we go again, this is deja vou.
red_gilly
24/11/2006 18:56:00
0
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!
STFC_Editor
24/11/2006 20:10:00
0
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 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
red_gilly
24/11/2006 22:03:00
0
This 'roller-coaster' ride is beginning to make me feel sick !! There can't be many other clubs who have to suffer this.
APG_STFC
25/11/2006 08:49:00
0
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.
red_gilly
25/11/2006 18:56:00
Page 1/1
  1. 1

Login to post a comment

Recent Swindon Town Articles

New EFL Radio Deal Starts 2017/18

The Football League confirmed yesterday that a new three year deal with Talksport and the BBC had been signed to increase radio broadcast coverage from next season.

FA Boosts Cheating Powers for 2017/18

The Football Association announced earlier today that they have extended their powers when it comes to punishing retrospective simulation.

Potential League Two Make Up 2017/18 (15/5/17)

With no games remaining in the 2016/17 campaign, some promotions and relegations in the football pyramid are already known.

Clubs Agree To EFL Trophy Extension

The majority of League One and Two clubs have today agreed to keep the Under 23 element of the EFL Trophy for a further two years.

Archived Vital Swindon Articles

Vital Swindon articles from

Site Journalists

Write for Vital Swindon
Write For Vital Swindon
Apply Here

Current Poll (see more polls)

Where do you think Swindon Town will finish in 2016/17?
Suggested By:
Champions5%
Playoffs16%
Mid Table28%
Relegated50%
Don't Know1%

League Table

# Team P W D L Pts. GD
C Sheff Utd 46 30 10 6 100 45
P Bolton 46 25 11 10 86 32
3 Scunthorpe 46 24 10 12 82 26
4 Fleetwood 46 23 13 10 82 21
5 Bradford 46 20 19 7 79 19
6 Millwall 46 20 13 13 73 9
7 Southend 46 20 12 14 72 17
8 Oxford 46 20 9 17 69 13
9 Rochdale 46 19 12 15 69 9
10 Bristol Rovers 46 18 12 16 66 -2
11 Peterborough 46 17 11 18 62 0
12 MK Dons 46 16 13 17 61 2
13 Charlton 46 14 18 14 60 7
14 Walsall 46 14 16 16 58 -7
15 Wimbledon 46 13 18 15 57 -3
16 Northampton 46 14 11 21 53 -13
17 Oldham 46 12 17 17 53 -13
18 Shrewsbury 46 13 12 21 51 -17
19 Bury 46 13 11 22 50 -12
20 Gillingham 46 12 14 20 50 -20
R Port Vale 46 12 13 21 49 -25
R Swindon 46 11 11 24 44 -22
R Coventry 46 9 12 25 39 -31
R Chesterfield 46 9 10 27 37 -35
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Swindon Town Results (view all)

Swindon Town Fixtures (view all)

Vital Football Comment