Date:Thursday June 7 2007
Former Swindon Town investor Bill Power is prepared to go to Court to reclaim £1.2M he says he loaned the club during his tenure at the County Ground, however the club have stated the money Power gave to the club was for shares.
Power, the leader of the Fans Consortium has set an ultimatum down saying the club have to admit the money he put in was a loan or he will go to the courts to reclaim his money.
The Gazette newspaper is claiming that Power has set a timeline for this to happen otherwise Power will start legal proceedings against Swindon Town Football Club which will almost certainly bankrupt the club if the courts award in Power`s favour
'They have got one option, either agree it is a loan, or the club will go bankrupt' Power is quoted as saying.
The club and Power were discussing an NDA agreement to start discussions on Power taking over the football club however nothing has been said for some time on this front.
The stakes have just been raised higher by the Fans Consortium it appears it is now do or die time, lets hope both parties can come to some sort of agreement that will ensure the long term future of the football club.
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Date:Thursday June 7 2007
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