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

Best of Vital Network

Vital Boxing - Behave Is the Buzz Word

Recent Swindon Town Articles

More Reliable Than A League 1 Octopus? (22/2/17)

Time for the new special computer that crunches the numbers to determine the final League One positions for 2016/17.

Who Serves A Suspension This Week - 22/2/17

Here's a list of all the players currently serving, or under a suspension at the beginning of the week that will potentially keep them out of contention...

Football League - Fixture Day & 2017/18 Key Dates

The Football League have released the key dates for the coming 2017/18 season, and the all important fixtures will be released on Wednesday June 21 at 9am.

Who Serves A Suspension This Week - 17/2/17

Here's a list of all the players currently serving, or under a suspension at the beginning of the week that will potentially keep them out of contention for an applicable...

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:
Champions3%
Playoffs21%
Mid Table35%
Relegated41%
Don't Know0%

League Table

# Team P W D L Pts. GD
1 Sheff Utd 33 19 8 6 65 24
2 Scunthorpe 32 17 9 6 60 25
3 Bolton 31 17 7 7 58 19
4 Fleetwood 33 16 10 7 58 15
5 Southend 33 14 11 8 53 11
6 Bradford 33 12 16 5 52 11
7 Millwall 32 14 9 9 51 7
8 Rochdale 31 14 6 11 48 4
9 Peterborough 33 13 8 12 47 1
10 Oxford 31 13 7 11 46 5
11 Bristol Rovers 33 12 10 11 46 -2
12 Walsall 33 11 13 9 46 -2
13 Charlton 32 9 15 8 42 6
14 Wimbledon 32 9 13 10 40 0
15 Northampton 33 11 7 15 40 -4
16 MK Dons 32 10 9 13 39 0
17 Shrewsbury 33 10 8 15 38 -11
18 Gillingham 33 8 12 13 36 -10
19 Oldham 33 8 11 14 35 -12
20 Bury 33 9 7 17 34 -11
21 Port Vale 31 8 10 13 34 -16
22 Swindon 33 7 9 17 30 -18
23 Chesterfield 33 7 7 19 28 -21
24 Coventry 32 5 10 17 25 -21
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Swindon Town Results (view all)

Swindon Town Fixtures (view all)

Feb 25 2017 3:00PM : Coventry City (a)
Sky Bet League One
Feb 28 2017 7:45PM : Gillingham (H)
Sky Bet League One
Mar 4 2017 3:00PM : Chesterfield (H)
Sky Bet League One
Mar 11 2017 3:00PM : Port Vale (a)
Sky Bet League One
Mar 14 2017 7:45PM : Sheffield United (H)
Sky Bet League One
Mar 18 2017 3:00PM : Bradford City (a)
Sky Bet League One

Vital Members League Table

RankNamePoints
1.Supremegaz1
The Vital Football Members League