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Swindon are bailed out by shareholder
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."
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.
Swindon are bailed out by shareholder
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."
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.
