Swindon Town consider administration to cut debts of £13million

Swindon Town are believed to be considering administration for the third time in order to reduce reported debts of around £13million.

Owner Andrew Black, is unwilling to put in any further funds, and is actively seeking fresh investment, with possible new owners coming in.

It is believed debts of around £9million would be cleared if the club where to enter into administration for a third time in their history, they would also face a points deduction penalty.

This morning (Thursday 17th) the club’s official Twitter feed said: “Robin’s News Swindon Town consider entering administration to cut £13m debts.”

Chairman Sir William Patey previously said: “The dream scenario is we’d be in the Championship with new investors and new owners, but there are a lot of other things that could happen too, and I do stress the money situation is extremely tight.”

A reduction in the monthly playing budget at Swindon – which is believed to be in excess of £250,000 – is likely to be a priority, meaning League One’s fifth-placed club could be forced to sell players.

A board meeting has been called for Saturday, with several external parties understood to be interested in purchasing the club.