Swindon Town Risks Administration
League One club Swindon Town is reported to be considering administration in order to reduce its spiralling debts, thought to be up to £13m.
Should the club enter administration, £9m could be wiped from the club’s deficit which is said to be the favoured option among the club’s directors despite the risk of facing a points deduction. Swindon Town owner Andrew Black, co-founder of Betfair, is said to be unwilling to invest additional funds into the club.
Since taking over as owner of the club as part of a consortium in 2008, Black invested heavily, making Swindon Town one top 30 richest football clubs in England, however, despite this, Chairman Sir William Patey recently commented: ‘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.’
In 2011 Swindon Town broke Football League regulations by spending too much on wages and fees. Manager Paulo Di Canio recently said he would be willing to invest £30,000 of his own money to help the financially struggling club.
