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Last Updated: Friday, 5 October 2007, 09:27 GMT 10:27 UK
Club is bailed out by shareholder
Swindon's County Ground
The club has previously said it will stay at the County Ground
Swindon Town FC has been bailed out by its main shareholder again as negotiations continue on a takeover.

Unpaid players wages contributed to the demand for money to the majority shareholder, the Wills family.

It has also been revealed that the club owes Cheltenham Town FC 25,000 in ticket sales.

In August the club said Best Holdings SGPS S.A had taken formal control, but a spokesman on Friday said that negotiations were continuing.

The spokesman said: "We are confident [the deal] will go through."

New consortium

He would not say how much the club had asked the Wills family for, only that it was for short-term cover.

When Swindon Town FC came out of administration in 2002, it agreed to pay 1m within five years to creditors but still owes about 900,000.

A statement on the club's website said: "As the protracted negotiations with Best Holdings with regards to the takeover of the club continue, the STFC Board of Directors has, in the meantime, sought from the club's major shareholder additional funds to fulfil the immediate obligations and financial liabilities of the company."

The club has previously said a new consortium of investors would include the Wills family, their advisor and club general manager Mike Diamandis, and a new investor, thought to be Portuguese.

The Wills family has two directors on the club's board, Sir Seton and his son James.

SEE ALSO
Deal done on town football club
15 Aug 07 |  Wiltshire
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

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