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SWINDON TOWN: Town announce £2million investment plan
1:00pm Thursday 12th July 2012 in Sport
SWINDON Town’s major investors have announced their intentions to plough a further £2million into the club.
The Robins are also on the lookout for new investment from outside parties as they look to build a set-up capable of consolidating a place in the Championship.
A statement released by the club at lunchtime on Thursday read:
"STFC today announced a meeting of its shareholders on 20th July to change the Club's capital structure to allow new investment of at least £2,000,000 into the Club by existing investors. STFC's Board and shareholders were delighted to finish last season as Champions of League 2 and they believe that this budget will provide Paolo Di Canio with an excellent chance to press on into the Championship.
"With the continued endorsement of the local council, the Board intends to progress its plans to redevelop The County Ground in a program intended to provide expansive new sporting and stadia facilities to the community together with an impressive new gateway to the town.
"The Directors also announce they are actively seeking additional funding from external investors who share in their ambitions for the Club, both on and off the field. In the coming weeks, the Board intends to initiate discussions with a number of interested parties to take the Club to the next level."
Jeremy Wray (Town's interim chairman) said: "The new investment is tremendous news; it will help Paolo and his team in the push for the Championship and also progress the long awaited re-development of The County Ground.
"I look forward to discussions in the coming weeks with prospective new investors who could provide us with further firepower. We have a very exciting season ahead."