Chairman of Swindon Town Clem Morfuni denied he is looking to sell and stated he has invested £250,000 in the team to “stabilize” finances in recent weeks.
After a protracted legal battle, the Australian businessman acquired control of the League Two team in July 2021.
He said that he had already injected the funds during the previous two weeks and would do so “when needed”.
In response to internet rumors, Morfuni also stated that all players had received their payments on schedule last month.
In a lengthy statement, Morfuni said, “I can confirm that all player payments and HMRC issues have been paid and also paid on time. There have been reports and speculation concerning these matters.”
“I have invested £250,000 to stabilize the club over the last two weeks, and I will keep doing so as needed.
“The years of poor management under the previous ownership continue to cause us a lot of problems, which are still laboriously being worked through and paid for by me.
“As I have previously emphasized and will again now: Swindon Town is not up for sale.
“However, from time to time we receive expressions of interest from potential people to buy the club entertaining such discussions does not equate to actively seeking a sale, even if some may interpret it that way.”
Two years ago, when Morfuni took over, the Wiltshire club owed £7.5 million. However, in October of last year, those debts were lowered to £1 million, which was referred to as a step towards “complete financial security”.
To settle part of the debt, Morfuni disclosed in August that he had sold two individuals club shares.
“The current club revenue is not sufficient to cover the costs to run the club,” Morfuni said.
“Our plan is to focus on new revenue streams for the club, we also need to renegotiate all of our less favourable commercial deals and enhance our offerings to generate additional revenue.”
Despite being in 10th place in League Two, Swindon was ruthlessly eliminated from the FA Cup first round by National League team Aldershot. The Robins rallied for four goals in the last minute to defeat the winning team 7-0.
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