UK time is: 04:25:54
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

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

Swindon Sorting Out Cash Woes

Swindon Town's acting chief executive Maryn Starnes has told Swindon Town fans, 'we are managing the situation.' In regards to the CVA Payments due.

Explaining the reasons behind not revealing that the CVA payment for 100,000 had not been made, Starnes stated, 'The situation is that back in June when the payment was due we had the money available to pay, it is still available to pay, but we were already starting to think about the 900,000 payment.'

Starnes revealed that the main reason the club did not reveal why the payment was not made was on the advice of the administrators who have been in charge of ensuring Swindon keep up to date with payments. 'The advice we were given in the summer was that potentially we could roll that 100,000 due this year into a refinancing package with the 900,000.' Starnes said.

Many fans have been wondering what has happened to the 1 Million that former investor Bill Power had put into the club. Starnes has answered that question. 'The bottom line is that the money Bill put in was used to pay bills and effectively it was used to finance the losses.' Starnes finished.

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

The Journalist

Writer: Moonraker1969 Mail feedback, articles or suggestions

Date:Thursday November 30 2006

Time: 11:08AM

Your Comments (oldest first)

Change to most recent first
I am so full of confidence now (not!!!!!!!!!!!!!!!!!!!!)
Report Abuse
01/12/2006 22:48:00

keep believing
Report Abuse
01/12/2006 23:35:00

It makes you wonder who does what out there. I can see it one day, mid-match the floodlights going off cos they ain't paid the Electric Bill.
Report Abuse
02/12/2006 07:49:00

We always get out of trouble, I'm not worrying.
Report Abuse
02/12/2006 09:17:00


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
Chesterfield 0 - 4 Swindon
Swindon 2 - 1 Walsall
Fleetwood 5 - 1 Swindon
Swindon 2 - 1 Scunthorpe
Wigan 1 - 0 Swindon
Swindon 2 - 2 Coventry

League Table (view table)

Team P W D L GD Pts
14. Scunthorpe 20 8 2 10 -3 26
15. Doncaster 20 6 6 8 -6 24
16. Chesterfield 20 7 2 11 -10 23
17. Swindon 20 6 4 10 -5 22
18. Fleetwood 20 6 3 11 -2 21
19. Shrewsbury 19 6 3 10 -3 21
20. Colchester 20 5 5 10 -19 20

Swindon Town Fixtures (view all)

Breaking League News

What The Bosses Said - Southend United 0 Latics 0
Wigan : 29/11/2015 22:34:00
Real boost for Alex
Crewe : 29/11/2015 22:09:01
Well-Earned Break Time For Sky Blues
Coventry : 29/11/2015 19:57:01
DRFC Coventry City v Doncaster Rovers Highlights
Doncaster : 29/11/2015 19:30:00
McDonald: 'We Can Start A Winning Streak Now'
Blackpool : 29/11/2015 18:51:01

Current Site Poll (view all polls)

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