Swindon May Go Into Admin

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Tans Tache
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PostTans Tache Thu Jan 17, 2013 8:56 pm

Swindon Town could be forced in to administration in order to reduce their debts - thought to be around £13m.
BBC Wiltshire has learned Swindon's owner, Andrew Black, is unwilling to put in further funds, and is actively seeking fresh investment.
Around £9m is set to be wiped from the deficit if they enter administration for a third time in their history, but they may then face a points deduction.
Town are likely to appoint accountants to restructure their finances.
A reduction in the monthly playing budget at Swindon - which is believed to be in excess of £250,000 - is likely to be a priority, meaning League One's fifth-placed club could be forced to sell players.
And if entering administration is their only viable option, the Football League could impose a 10-point penalty.

When Paolo Di Canio was appointed as manager in May 2011, he was given substantial funds to add to the Swindon squad and last season the re-shuffle paid dividends, as he led them back to League One as champions at the first time of asking.
Di Canio went on to make seven signings over the summer but it eventually led to the club breaking Football League regulations by overspending on wages and fees, and they were given a month-long transfer embargo earlier this season.
New chairman Sir William Patey, who replaced Jeremy Wray the week after the embargo was sanctioned, said earlier this month that no money would be available for Di Canio to spend in the January transfer window.
Patey added: "The dream scenario is we'd be in the Championship with new investors and new owners, but there are a lot of other things that could happen too, and I do stress the money situation is extremely tight."
And on being told he may not be able to re-sign key loan players Chris Martin, Danny Hollands and John Bostock, Di Canio said he would be willing to invest up to £30,000 of his own money to keep them at the County Ground.
Owner Black was part of a consortium which took over Swindon in 2008.
A board meeting has been called for Saturday, with several external parties understood to be interested in purchasing the club.


I like swindon, good club, great fans, very sad if it does happen, pretty much blow there playoff promotion chances i know, it dont seem much 10 points but itll be hard to claw it back,
Rhys
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PostRhys Thu Jan 17, 2013 9:50 pm

Not the only club that has a Hammam-esque figure then. Over ambition can really bite you in the ass
Welshineire
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PostWelshineire Thu Jan 17, 2013 9:56 pm

Maybe VT has a friend of a friend. I'm sure there would be open arms waiting for him/her.
TDA
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PostTDA Thu Jan 17, 2013 10:23 pm

Swindon May Go Into Admin 3874419067

........and they already play in red.....coat
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