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SWINDON TOWN: Town release statement regarding club ownership
9:57am Tuesday 3rd December 2013 in Sport
SWINDON Town have released a statement regarding the state of ownership of the club.
In it, Lee Power is confirmed as the new owner of the Robins after a transfer of shareholding to his company, Swinton Reds 20 Ltd.
The statement, which is similar to an update issued by Town on Friday before being removed from the club's website, reads: "STFC are pleased to announce the change of ownership of STFC to Swinton Reds 20 owned by Director of Football, Mr Lee Power.
"The change of ownership signals no fundamental changes in the Club but has been executed post the completion of the audit in line with the intent of the consortium led by Mr Jed McCrory who acquired STFC.
"Since the takeover Mr Power has injected £1.2m for a limited period of time to release the embargo enforced by the Football League at the time of takeover.
"Since then he has provided the entire funding to ensure the financial ongoing probity of the Club.
"Mr Power has also furnished the Football League with further proof of funds to underwrite the future liquidity of the Club.
"STFC would like to thank The Football League for its assistance to date."
The statement has been ratified by director Sangita Shah, while the Advertiser understands a board meeting is taking place at the County Ground this morning.
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