UK time is: 12:27:00
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

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

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.




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.

Join the Vital Fantasy Football League - its Free!

The Journalist

Writer: Moonraker1969 Mail feedback, articles or suggestions

Date:Thursday October 4 2007

Time: 5:36PM

Your Comments

Jeez - I hope they pull the plug and put us all out of our 15 year misery!!
Wellsy
I would hate for the club to be wound up :(
STFC_Editor
 

Have Your Say

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

Recent Swindon Town Articles

Bradford Manager On Swindon Loss (Sunday September 14 2014)

COOPER: Bradford Reaction (Sunday September 14 2014)

Stats: Bradford City v Swindon Town (Saturday September 13 2014)

VITAL PREVIEW: Bradford City (Saturday September 13 2014)

Agombar Heading Out On Loan To Hereford (Thursday September 11 2014)

Alan Navarro Announces Retirement (Monday September 1 2014)

Swindon Confirm Jonathan Obika Signing (Monday September 1 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

League Results (view all)

Latest Results
Crawley 1 - 0 Swindon
Swindon 3 - 1 Scunthorpe
Swindon 2 - 0 Crewe
Swindon 1 - 1 Coventry
Gillingham 2 - 2 Swindon
Bradford 1 - 2 Swindon

League Table (view table)

Team P W D L GD Pts
3. MK Dons 6 4 1 1 6 13
4. Chesterfield 6 4 1 1 5 13
5. Coventry 7 3 3 1 2 12
6. Swindon 6 3 2 1 4 11
7. Fleetwood 7 3 2 2 2 11
8. Bradford 7 3 1 3 1 10
9. Sheff Utd 6 3 1 2 1 10

Breaking League News

Team News: Swindon v Oldham
Oldham : 16/09/2014 10:03:00
Team News: North End v Chesterfield
Preston : 16/09/2014 10:02:00
Team News: MK Dons v Bradford
Bradford : 16/09/2014 10:00:00
Team News: Doncaster v Crawley
Crawley : 16/09/2014 09:59:00
Team News: Colchester v Sheffield United
Sheff Utd : 16/09/2014 09:58:00

Current Site Poll (view all polls)

Are you happy with the signing of Jonathan Obika?
Suggested By:  
Yes 0%
No 50%
Unsure 50%