Date:Thursday October 4 2007
Just as you thought things couldn't get any worse at Swindon Town, the financial problems have begun to resurface as the takeover of the club drags on.
Just 3 weeks ago everything seemed so perfect, new owners, Paul Sturrock pledged his future to the club and we signed 2 good strikers, that has now been overshadowed by more financial problems which has seen the players wages delayed this month.
Whilst financial problems are nothing new at the County Ground, the club is still 3 months in areers on its CVA bullet payment of £900,000 it was due to pay in June.
Jim Little and his backers had promised to pay all the clubs current liabilities and put the club on sound financial footing.
Sticking points in the negotiations have been rumoured for some time and the Swindon Advertiser has stated the new owners want assurances that once a takeover goes through they don't want any historical debts to jump out at them.
In response to all the latest drama at the club, Swindon Town have released the following statement to try and ease fans fears that the club is about to go under.
'As the protracted negotiations with Best Holdings with regards to the takeover of the club continue, the STFC Board of Directors has, in the meantime, sought from The Club's major shareholder additional funds to fulfil the immediate obligations and financial liabilities of the Company.'
One hopes that if the takeover does not go through soon that Swindon Borough Council and HM Customs and Excise don't pull the plug on the club.
The Football League are currently aware of the situation and have stated no action is forthcoming but how long will they wait? Will we get a points deduction or even expulsion from the league? no one knows but one thing is for sure, the takeover needs to be completed and be completed soon so we can all concentrate on matters on the pitch instead of what is happening off it.
Date:Thursday October 4 2007
Swindon Advance To JPT Area Final (Wednesday December 11 2013)
Luke Rooney's Contract Cancelled (Wednesday December 11 2013)
Ex-Swindon Player Suspended For Alleged Fixing (Tuesday December 10 2013)
Alex Pritchard Could Go In January (Tuesday December 10 2013)
Power: Not Plans For New Stadium (Saturday December 7 2013)
Swindon Release Lee Power Statement (Tuesday December 3 2013)
Swindon Release Jed McCrory Statement (Tuesday December 3 2013)
Jed McCrory Resigns As Swindon Chairman (Tuesday December 3 2013)
Swindon Town Ownership: Sort It Out NOW! (Monday December 2 2013)
Swindon Town 3 - Carlisle United 1 (Monday December 2 2013)
|9. Port Vale||19||9||2||8||0||29|
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