Date: 5th October 2007 at 11:37am
Written by:

Swindon Town have acted quickly to ease fans fears over the future of the club by releasing a new statement addressing the proposed takeover of the club.

Swindon Town Director Bob Holt has issued the following update to supporters with the latest news regarding the takeover of the club via the clubs official website at http://www.swindontownfc.co.uk.

Statement From Bob Holt

Jim Little Chairman Designate of the Club, and the representative of Best Holdings, has been in constant dialogue with both the Club’s Board of Directors and the major shareholders. During the past two weeks Best Holdings have requested additional information, which has now been provided.

Whilst admittedly there have been a number of issues concerning the transaction the Board are confident that sufficient progress has been made this week to resolve those difficulties.

The delays experienced, in the opinion of the Board, are not to be interpreted as an indication that the deal is stalling. On the contrary both parties have a mutual determination and will to finalise the transaction as soon as possible. However it must be recognised that it is prudent to take time to ensure that all the ‘Minor Paperwork’ that Jim alluded to in the last set of programme notes is agreed in order that it does not become a major problem post-completion.

Jim made reference in last Wednesday’s Swindon Advertiser to the Club’s debts. These are explicitly dealt with and warranted by the shareholders in the Sale and Purchase contract and should not be an issue that would prevent completion.

Jim reiterated, also in Wednesday’s Swindon Advertiser, that both parties still going over the tiny points’. However the Board believe that these ‘Tiny Points’ have now been addressed and the additional information required by the purchasers has now been provided.

We look forward to welcome Jim and his team to The County Ground in the very near future.

Bob Holt, Director.