Swindon Town finances

[Piethagoram 𝕏 @piethagoram]

 

[liampie]

are they still in trouble with their owners? italian owned? not investing into the club? i know they seemed to do a fair bit of business at the start of this season but i have lost track of where they are in terms of financial issues.

[Robbie 𝕏 @Robbie_NCFC]

I believe the current financial rules & guidelines for professional clubs are completely unsustainable & there needs to be a complete overhaul of them, beginning with getting a financial watchdog in place asap.

[allardyces tash]

Unlike in previous years, no profit and loss account was provided, nor was there a director’s report or an accountant’s report to give further context to the figures, with only the balance sheet included in this year’s accounts. 

Should the EFL step in and tell clubs that they must get their accounts in order before they can sign players for fees or sanction limits on their wage bill? There are a lot of clubs that are gambling with their future. Swindon Town haven't turned their misfortunes around properly. They still discard players almost every season to the point they have to rebuild, and some of this is down to the club's limited contract length. However, this season they did seem to start changing their stance on this. Still a poor state to be running as when it comes to football.

[Chris Website URL Visit Site 𝕏 fmcj10 Instagram fmcj10]

Clem Morfuni is one of the worst owners in football; he has zero clue about how to run a club and has just used the club as a vanity project. He talked of building them, using links to other clubs and bringing in better players, but it has left Swindon Town soulless. I wished, @medievalmickey could comment on this.

He wouldn't allow the club to sign players for longer than a single season at one point, and the players under contract quickly hated the environment around the club. There was a video on YouTube where a channel interviewed the Swindon Town Trust and managed to get players to do interviews. One of whom didn't play at all, despite having half a season left on his deal, just because he called out Morfuni.

It might seem that they are managing their debts better, but I think it is more due to the neglect and cutbacks that Morfuni had previously put in place. The total amount, I think, is increasing. Swindon fans still want him out, but for them to find someone willing to take on over £8 million of historical debts seems a challenge. I also can't see an owner like Morfuni walking away without wanting some form of profit. He doesn't care what personal thoughts are towards him; he's just hell-bent on owning a football club and only cares about himself.

 

Swindon Town Supporters Trust reiterates call for new owners

WWW.BBC.CO.UK

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Swindon Town Supporters Trust reiterates its call for owner Clem Morfuni to sell the struggling League Two club.

 

[Robbie 𝕏 @Robbie_NCFC]

@Chris Swindon Town is the perfect example why we need to have an independent  football regulator as soon as possible to ensure that every new club owner is checked out for suitability.

Having the power to force an owner to sell a club or ban individuals for life would be a big step forward.

It shouldn't be left to the Premier League & EFL to check out new owners & Directors as they do now. Their due diligence on new owners is clearly not dilligent enough.

[Chris Website URL Visit Site 𝕏 fmcj10 Instagram fmcj10]

Just now, Robbie said:

Having the power to force an owner to sell a club or ban individuals for life would be a big step forward.

The FA, under its membership, should formulate this rule and then seek legal governance of it. This would be a huge step forward, but currently fans protesting or wanting an owner out usually fall on deaf ears. Some local councils do try to get involved; this happened with Derby and I think it helped in their case. They almost lost access to Pride Park without a similar issue to what is happening with Bradford City leasing their own ground for an exorbitant amount per season.

I am all for it; I think football would be better off if independent football regulators were introduced.

In addition, owners who purchase assets for the club should be required to put 51% of the ownership into something outright owned by the club or its fans. Ideally, not a trust or supporters group. These are areas where problems could easily form, and we only have to look at when Munto purchased the club. I think it should be separate, independent, and formed from all groups involved in supporting the team.