17 Nov 2009Swindon Town comment on winding-up claims

Football Clubs News | Football Finance News

Swindon Town have issued a statement in response to claims that the club is facing a winding-up order over unpaid debts.

An article published by the Guardian on Monday (November 16th) stated that property firm St Mowden is still waiting for the repayment of a £1.45 million loan it agreed with the League One outfit in 2005.

The newspaper claimed that the company is seeking to recoup the full amount plus £1 million in interest and issued a statutory demand for repayment three weeks ago.

In the statement, Swindon Town explained that the matter dates back to 2003, when its former holding company set up a joint venture company with St Mowden.

The club said that the two parties have been involved in discussions about the issue for some time, adding: "Although no resolution has been reached, the club will continue to use all endeavours to bring the matter to a satisfactory conclusion."

Swindon Town is currently owned by Swindon Football Holdings, a consortium that includes club chairman Andrew Fitton and City financier Sir Martyn Arbib.

Written by Paul Roberts

© Copyright