UK time is: 16:48:09
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




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!


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.
red_gilly
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!
STFC_Editor
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 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
red_gilly
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.
APG_STFC
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.
red_gilly
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

Swindon V Bradford Date Confirmed (Friday January 23 2015)

Swindon's Gladwin To Miss 4 Weeks? (Wednesday January 21 2015)

Miles Storey To St. Mirren? (Wednesday January 21 2015)

Northampton Pull Out Of Storey Loan (Wednesday January 21 2015)

Stats: Swindon Town v Chesterfield (Saturday January 17 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

Vital Members League (view all)

League Results (view all)

Latest Results
Swindon 3 - 1 Chesterfield
Coventry 0 - 3 Swindon
Fleetwood 2 - 2 Swindon
Swindon 1 - 0 Port Vale
Walsall 1 - 4 Swindon
Swindon 0 - 1 Doncaster

League Table (view table)

Team P W D L GD Pts
1. Swindon 26 16 6 4 +27 54
2. Bristol City 25 16 6 3 +26 54
3. MK Dons 25 15 6 4 +29 51
4. Preston 25 13 7 5 +14 46
5. Rochdale 25 11 4 10 +12 37
6. Fleetwood 27 10 7 10 +1 37
7. Bradford 25 10 6 9 +3 36

Breaking League News

Walsall Boss Aims To Kill Off Preston.
Preston : 27/01/2015 16:33:00
Striker blow for Alex
Crewe : 27/01/2015 14:54:00
Defender signs new deal
Crewe : 27/01/2015 14:48:00
Smith Backs His Troops To Shine
Walsall : 27/01/2015 13:53:00
Team News: Scunthorpe v MK Dons
Scunthorpe : 27/01/2015 09:49:00

Current Site Poll (view all polls)

Will Andy Williams Re-Sign With Swindon Town?
Suggested By:  Vital Swindon
Yes For Sure 12%
Only If We Are Promoted 22%
No 55%
Unsure 11%