UK time is: 01:53:18
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.




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:Thursday November 30 2006

Time: 11:08AM

Your Comments

I am so full of confidence now (not!!!!!!!!!!!!!!!!!!!!)
red_gilly
keep believing
ernshaw
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.
APG_STFC
We always get out of trouble, I'm not worrying.
STFC_Editor
 

Have Your Say

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

Recent Swindon Town Articles

Swindon Town Sign Anton Rodgers (Thursday July 17 2014)

Ryan Harley Back To Exeter City? (Wednesday July 16 2014)

McEveley Links Up With MK Dons (Wednesday July 9 2014)

Storey Completes Pompey Switch (Wednesday July 9 2014)

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

League Table (view table)

Team P W D L GD Pts
19. Rochdale 0 0 0 0 0 0
20. Scunthorpe 0 0 0 0 0 0
21. Sheff Utd 0 0 0 0 0 0
22. Swindon 0 0 0 0 0 0
23. Walsall 0 0 0 0 0 0
24. Yeovil 0 0 0 0 0 0

Breaking League News

O's Hold QPR
» Leyton Orient : 29/07/2014 22:21:00
Pressley Hails Signing of 'First Class' Tudgay
» Coventry : 29/07/2014 21:04:00
Spotlight On…Notts County
» Peterborough : 29/07/2014 20:00:00
Oldham Announce 2014-15 Shirt Numbers
» Oldham : 29/07/2014 16:59:00
Agard A Target For Cotterill
» Bristol City : 29/07/2014 16:33:00

Current Site Poll (view all polls)

Can Swindon Town challenge for Promotion This Season?
Suggested By:  Vital Swindon
Yes 0%
No 0%