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Troubling Times At Town
But don't panic say STFC Supporters' Trust as threat of Administration is mooted
Swindon Town's success on the pitch is once again being overshadowed by their financial situation off it.
Chairman Andrew Black is seeking to sell the Club to new investors and has opened up the possibility of bringing in Administrators to bring that forward.
It is understood that Black, along with other members of the Board, are owed nearly £13 million. The monthly wage bill is estimated at over £250,000 per month.
"These are all issues that we've been well aware of," commented TrustSTFC Chairman John Ward,
"but the club is in a very strong position in League One and there is genuine interest from parties looking to invest.
"It's not a time for fans to panic. But I would urge all those who support the Club to join the Trust, so we can work towards having a bigger say in how the club is run in the future."
Exit confirmed
In a statement today, current Town chairman Sir William Patey confirmed Andrew Black's intention to sell his stake in the club.
“Andrew Black has made it clear that he is looking for someone to acquire his majority shareholding in the club and as a consequence the Board has been engaged in detailed discussions with interested parties these past few weeks. The club is also taking professional advice as to how best facilitate an early sale," Patey said.
“The aim is to attract new owners as Swindon Town is a club with real potential and with a huge opportunity.” |
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Swindon Town FC - website |