Get involved! Send photos, video, news & views. Text WILTS GAZETTE to 80360 or email us
SWINDON TOWN: Patey wants a bidding war
SWINDON chairman Sir William Patey wants to engage two potential new owners in a bidding war to ensure the club is sold for the best deal possible.
Current owner Andrew Black is looking to offload his majority shareholding in the club, and the board are set to meet today to discuss the options they have with seven parties believed to be interested in buying the Robins.
The club have no outstanding debts to the taxman, banks or other creditors with the only money owed being to current shareholders, and Patey believes Black is not looking to make money from the sale and is keen to cut his losses having ploughed more than £10million of his own money into the Robins.
Patey thinks a number of the parties are ‘very serious’ in their interest, and would love more than one to bid for the club to ensure they get the best possible deal.
“If we can get two absolutely serious bidders going against each other that would be great,” he said.
“We only need to see one through to completion, but of course more than one would certainly be very helpful for us.
“We are in discussions with a bunch of people who want to buy the club and it is ongoing. We are meeting various people and we have our professional advisors who will be assessing those offers and the ability of the various parties in that process.
“We want it to happen as quickly as possible, of course we do, and although it is hard to say we are looking at weeks rather than months.
“I doubt all of them will be serious, but there are a number of them which are looking very serious but we are not ready to sign with anybody just yet.
“There are a full range of people, some are interested in the whole package and some are interested more in the property than the football and the other way round.
“We all want the best deal for Swindon to see it flourish in the future, and Andrew (Black) wants to see the best return because he has poured a lot into the club, although this is more about cutting his losses rather than trying to make any money.”
Patey confirmed manager Paolo Di Canio has no money to spend until the situation regarding the ownership of the club is sorted, including any possible extensions to Danny Hollands’ and Chris Martin’s loan deals.
“We have to think about transfers and that sort of thing, because the board has to think about the sustainability of the club so the sooner we get beyond the expression of interest phase the better,” he said.
“There is no more money for players, and it would be ludicrous to make any available in these circumstances.
“The only chance of them (Hollands and Martin) staying on is if we are bought in that period of time, not necessarily completed but we would have to be certain it was all going through.”