Swindon Town Football Club would like to issue the following statement from Clem Morfuni:
Dear Supporters,
I felt it was important to write to you all after the shocking 7-4 defeat we suffered against Aldershot in the FA Cup yesterday. I want to address not only this embarrassing loss but also provide clarity on a series of stories that have been circulating on social media.
Firstly, I want to acknowledge the huge disappointment you must all be feeling, and let you know I share the same pain. Football is a game that can deliver incredible highs and devastating lows and we’ve had lots of both in my short time as owner of Swindon Town FC.
As owner, I take full responsibility for everything that happens within our club and I'm writing this message to let you know I’m confronting the challenges head-on.
I speak to Michael Flynn regularly about the football and the recruitment in my view, he has been exceptional this season this is why we offered Michael a new contract to reflect the start to the season that we have had so far.
I have been having discussions with Michael Flynn and Jamie Russell regarding strengthening our squad in the January transfer window, which I will personally be overviewing.
I will be there in January to support the hard work between Michael Flynn, Wayne Hatswell, Jamie Russell & Anthony Hall.
Rumours of an imminent Club Sale:
I understand that there has been a lot of speculation regarding the potential sale of the club, and I want to address the concerns and clear up any confusion. As I've emphasised before and will reiterate 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.
Financial Stability:
There have been reports and speculation concerning player payments and HMRC issues which I can confirm have been paid and also paid on time. In the past fortnight, I have injected £250,000 to stabilise the club and I will continue to stabilise the club as and when needed. We still encounter many difficulties due to the years of mismanagement from the prior ownership and these challenges are still painstakingly being worked through and paid for me.
The current club revenue is not sufficient to cover the costs to run the club, with existing deals in place that have been active for years that don’t make us any money and benefit others tremendously. Anthony Hall our CEO has talked me through this at length and 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.
Financial Sustainability:
We recently joined the Fair Game Initiative, which is dedicated to making football clubs more sustainable. We are fully aligned with their goals and believe in the significance of a sustainable future for our club and the football community.
It's been said recently that clubs in League Two lose on average £1m-£2m, in League One they lose £3m+ every year and in the Championship even more, all chasing success. It shouldn’t be this way and Fair Game is pushing very hard and want all football clubs to become more sustainable, telling us that since the Premier League was created in 1992, there have been 64 instances of clubs collapsing into administration in the top 4 divisions and also that the Premier League gives more money to one parachute payment club than it does to all 120 clubs in leagues 1, 2 and the National League combined. Things must change, and we fully support the Fair Game initiative.
The County Ground
The stadium purchase, with equal ownership shared between the club and our supporters, was a massive step towards securing our financial stability. It will take years to complete, but in time we will be able to generate income 7 days a week.
The club pay rental to the JV which is then paid back to the club and reinvested to fix the stadium which is being carried out progressively which we have reported on in the Advisory board meeting minutes and the current spend this close season was +£200K.
We’re currently working with the Supporters Trust on a new fan zone, we think the fan zone will give supporters a much better matchday experience, this is something I will be personally looking over when I’m back in January.
Final Thoughts
Yesterday’s result was heartbreaking, but the early season has been filled with promise we need your patience, and we need your support more than ever during these difficult moments.
As stated already, we have a plan - we're actively working on strategies to increase revenue and to get promotion into League 1 and beyond.
I understand why you are disappointed and upset right now as I’m I and the rest of the team is. I want to emphasise that I am with you on that and assure you that I am 100% committed to Swindon Town
Thank you for all your support and I look forward to seeing you all before Christmas.
Clem Morfuni
