[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Wednesday, 15 August 2007, 08:22 GMT 09:22 UK
Deal done on town football club
Swindon's County Ground
The club has said it will stay at the County Ground
A new company has taken formal control of Swindon Town FC, it has been announced.

The board said it had signed a contract with Best Holdings SGPS S.A, but has not released any more information about who is involved.

It is thought the company is Portuguese.

Director Bob Holt said more information would be released soon, but that it was business as usual at the club's County Ground.

The club has previously said a new consortium of investors would include long-time owner the Wills family, their advisor and club general manager Mike Diamandis, and a new investor.

Fans' consortium

The backers have said they have enough money to deal with financial problems and to look to the long-term.

When Swindon Town FC came out of administration in 2002, it agreed to pay 1m within five years to creditors.

It still owes about 900,000.

Last December, a fans' consortium backed by former QPR chairman Bill Power tabled a formal application to take control of the troubled club.

The Wills family have two directors on the club's board (Sir Seton and son James), and remain the majority shareholder.


SEE ALSO
New backers for Swindon Town FC
03 Jul 07 |  Wiltshire
Football boss investigated by DTI
05 Jan 07 |  Wiltshire
New bid for Swindon football club
20 Dec 06 |  Wiltshire
Swindon Town seeks new bail out
24 Nov 06 |  Wiltshire
Row could force club out of town
30 Nov 05 |  Wiltshire

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific