Debt reprieve for football club

Swindon Town's logo

Swindon Town Football Club has been given four weeks to begin clearing a debt that jeopardises plans to secure its future.

If the club fails to clear its £87,000 rent arrears, a money-spinning scheme to build a new stadium could be blocked.

The club had promised to pay Swindon Borough Council the overdue rent on the existing County Ground stadium by Thursday of this week.

But only days before the deadline, the club asked to meet the debt by instalments.

Preferred buyer

Councillors agreed on Wednesday evening that if repayments were not underway by 5 September, they would reconsider plans to sell land to the club's sister company for a lucrative new stadium development.

Earlier this summer, club chairman Terry Brady persuaded the council to name Swindon Town Properties Limited as the preferred buyer for the land.

Swindon Town FC owes £87,000 in rent

The company plans to build a new stadium, a leisure centre, a hotel and houses on the greenfield site known as the Front Garden, near the M4.

The council agreed the awarded preferential status on the understanding that the same people would remain in charge of the club.

But Mr Brady then stepped down as chairman. It is not clear whether he is still involved in the property company.

The council became concerned that it no longer knew the details of the club's ownership, damaging confidence in the deal.

A list of directors was finally supplied on Tuesday.

Supporters' trust

Meanwhile, supporters are bidding for greater involvement in team affairs.

A core group of fans is working to set up a registered "football trust" with a financial investment in the club.

Debts at the council-owned County Ground have been built up since February.

The deputy leader of the council, Derek Benfield, said he was confident the debt would be repaid.