Clem Morfuni, the owner of Swindon Town, has reaffirmed his commitment to the club and clarified that he has no intention of selling it.
Morfuni, an Australian businessman who took over the League Two club in July 2021 after a protracted legal battle, stated that he recently invested £250,000 to stabilize the club’s financial situation and will continue to do so when necessary.
In response to online rumors, Morfuni confirmed that all players received their payments on time. He acknowledged the financial challenges the club faces due to prior mismanagement and emphasized that he is actively addressing these issues.
Morfuni emphasized that Swindon Town is not on the market for sale, although he occasionally receives expressions of interest from potential buyers. He clarified that entertaining such discussions does not indicate an active effort to sell the club, despite some misconceptions.
When Morfuni acquired the club two years ago, it had £7.5 million in debt, which has since been reduced to £1 million as part of an effort to achieve complete financial stability.
However, the club’s current revenue is insufficient to cover its operational costs. Morfuni’s plan includes exploring new revenue sources, renegotiating less favorable commercial agreements, and improving offerings to generate additional income.
Swindon Town is currently ranked 10th in League Two but faced a challenging exit from the FA Cup first round, losing 7-0 to National League side Aldershot, although they managed to pull back four late goals.
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