Vital Football

Latest Swindon Town News

Financial Mess Continues At STFC

Financial Mess Continues At STFC

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.



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

Join the Vital Fantasy Football League - its Free!

Writer:Moonraker1969
Date:Thursday October 4 2007
Time: 5:36PM

Comments

0
Jeez - I hope they pull the plug and put us all out of our 15 year misery!!
Wellsy
05/10/2007 13:58:00
0
I would hate for the club to be wound up :(
STFC_Editor
05/10/2007 17:03:00
Page 1/1
  1. 1

Login to post a comment

Recent Swindon Town Articles

DEADLINE DAY: Michael Smith Confirmed To Pompey

Smith leaves Town.

DEADLINE DAY: Michael Smith To Portsmouth?

Smith heading to League Two Giants?

DEADLINE DAY: Swindon Re-Sign Louis Thompson

Louis returns..... AGAIN!

Stats: Swindon Town v Barnsley

All the stats from Swindon Town (0) vs (1) Barnsley, County Ground, Swindon, 30/1/2016, 15:00 Att: 7,532

Archived Vital Swindon Articles

Vital Swindon articles from

Site Journalists

Shaun Calderwood
Profile

Current Poll (see more polls)

Port Vale v Swindon
Suggested By:
Swindon win54%
Port Vale win36%
Draw10%

League Table

# Team P W D L Pts. GD
1 Burton 29 19 3 7 60 16
2 Walsall 29 16 8 5 56 17
3 Wigan 30 15 10 5 55 21
4 Gillingham 30 16 7 7 55 19
5 Coventry 30 13 10 7 49 16
6 Millwall 29 14 5 10 47 9
7 Southend 29 13 8 8 47 6
8 Peterborough 29 13 5 11 44 13
9 Port Vale 31 12 8 11 44 -1
10 Barnsley 29 13 3 13 42 6
11 Sheff Utd 29 11 9 9 42 4
12 Bradford 28 11 8 9 41 -3
13 Scunthorpe 28 11 5 12 38 -4
14 Rochdale 28 10 7 11 37 -2
15 Bury 28 10 7 11 37 -7
16 Doncaster 29 9 9 11 36 -4
17 Swindon 30 10 6 14 36 -5
18 Blackpool 29 9 6 14 33 -7
19 Chesterfield 29 9 3 17 30 -11
20 Shrewsbury 30 8 6 16 30 -15
21 Fleetwood 28 7 8 13 29 -3
22 Crewe 29 6 8 15 26 -20
23 Oldham 27 4 12 11 24 -13
24 Colchester 29 5 7 17 22 -32
Latest F1 News
Latest Vital Boxing News

Swindon Town Fixtures (view all)

Feb 13 2016 3:00PM : Colchester United (a)
Sky Bet League One
Feb 20 2016 3:00PM : Blackpool (H)
Sky Bet League One
Feb 27 2016 3:00PM : Peterborough United (a)
Sky Bet League One
Mar 1 2016 7:45PM : Doncaster Rovers (H)
Sky Bet League One
Mar 5 2016 3:00PM : Oldham Athletic (a)
Sky Bet League One
Mar 12 2016 3:00PM : Millwall (H)
Sky Bet League One

Recent Swindon Town Results (view all)