SWINDON Town have released a statement confirming that the Football League have formally approved the sale of the club to new owners.
The statement reveals that Seebeck 87 Limited, the company backed by Jed McCrory's consortium, has acquired more than 99 per cent of the shares in the club.
It was originally expected that Andrew Black would retain 15 per cent of his shareholding.
Chief executive Nick Watkins is to be kept on by the incoming owners, with Sir Williams Patey, Andrew Black and Russell Blackhouse stepping down from the club's board of directors.
They will be replaced by new chairman McCrory, Steve Murrall, Gary Hooper and Callum Rice.
The statement reads: "The Board are delighted to announce they have now received clearance from the Football League and have completed of the sale of Swindon Town Football Club to Seebeck 87 Limited, a company backed by a consortium headed by Jed McCrory.
Following completion, which has seen Seebeck 87 acquire more than 99% of the shares in the Club, Sir William Patey, Andrew Black and Russell Backhouse have stepped down from the Board. The Club’s new board, chaired by Jed McCrory, retains Nick Watkins and welcomes new members Gary Hooper, Steve Murrall and Callum Rice.
Sir William Patey, outgoing Chairman, said: “Andrew Black and the outgoing Board leave Swindon as leaders of League One, with a good chance of back to back promotions to the Championship. The quality of our squad is the legacy of the very considerable investment that has been made, and I believe the benefits of this will continue to be enjoyed by fans for seasons to come. Notwithstanding all the challenges faced, we have comprehensively accomplished Andrew’s key objective of passing the club onto the new owners in a good state of heath.
“Despite the manager walking out on the Club, its players and its fans the day before a vital game, Tuesday night saw a wonderful performance from the team under incredibly difficult circumstances. The Club’s position at the top of the table is a testament to the efforts of those who will now go forward with the new owners. Losing our manager is obviously a disappointment but, as the result at Tranmere shows, Swindon is bigger than any one person.
“Certain members of the backroom technical staff have also left the Club, following the departure of the manager. In the interim, the Club has appointed Darren Ward and Tommy Miller as caretaker managers to handle the training and the lead up to Saturday’s game against Preston North End.
“I have greatly enjoyed my brief but demanding tenure as Chairman and look forward to enjoying Swindon's achievements in the future. I wish the fans, players, management and new owners every success.”
Jed McCrory, new Chairman, said: “This is a tremendously exciting time to be taking charge of Swindon Town Football Club. We are aware of the responsibilities we face taking custody of a Club with the heritage of Swindon and we take these responsibilities very seriously. We will do everything possible to ensure the sustainable long-term future of this fantastic football club.
“Following the resignation of Paolo Di Canio and members of his backroom staff, we have now begun the search for a top class manager and coaching team. We will not rush in to any decision, as we must select the right team to preserve our status at the top of the League. Once these new appointments are made, we will also seek to further strengthen the squad for the rest of the season. We will endeavour to keep fans as up to date with news as appropriate.
“On behalf of my fellow Directors and football fans, I am delighted to announce this agreement, and I look forward to seeing many of the fans at The County Ground through the rest of the season, one that I hope will bring Championship football back to Swindon.”