LATEST NEWS : Swindon owner sold off shares in club, to pay off £2.9m to

Swindon Town owner Clem Morfuni has stated that he sold interests in the club to two persons in 2022 to pay off the League Two side’s £2.9 million debt.

Morfuni, an Australian businessman, took control Swindon after a protracted legal struggle two years ago.

Morfuni stated that he only later realized the amount needed to be paid immediately, with the individuals stepping in to help pay off what the club owed.

Morfuni claimed in a statement that the club has the potential to go bankrupt.

“My understanding was it was debt that wasn’t due anytime soon,” he told me.

“Something I believed wasn’t an issue became a huge issue and we suddenly had a few days to pay £2.9 million or the club go into administration.”

Swindon Town is not for sale' - Club owner Clem Morfuni denies rumours |  ITV News West Country

Morfuni took over ownership of the club with £7.5 million in debt, which he earlier said had been reduced to £1 million.

Despite the fact that the majority of the outstanding £2.9 million has been paid, the persons Morfuni did not name retain part of Swindon Town’s ownership, implying that he does not own the entire club.

“Money was borrowed from two individuals that I reached out to and shares in the club were utilised as security for the loan as virtually all my assets are in Australia,” he went on to say.

“They have no interest in running the club and seek no control over it.

“What important is how we own our mistakes, correct them, and move on. I apologize to all supporters for any confusion this has caused.

Swindon finished 10th in League Two last season and is now in the same position after two games this season.

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