Swindon Town FC were restructuring their finances, Swindon24 reported on Wednesday 6 May 2026, and owner Clem Morfuni confirmed that everything the club owed was now due either to him or to firms in his Axis group.
The details followed what the club called a "formal and constructive meeting" with the Supporters' Trust about the County Ground club's financial position, its existing debentures and how it would be funded in future.
What changed?
- A £1.4 million debt owed to a third party was repaid in full. The money came from Sixa Mechanical Pty Ltd, part of the Axis group.
- A new debenture, a form of secured loan, replaced that debt. The report noted that the debt had moved inside the owner's group and had not disappeared.
- After a recent restructure, Axis Football Investments became the sole parent company, with all shares back under Mr Morfuni's control.
The club described repaying the £1.4 million as "an important step in strengthening the Club's overall financial position and reducing external pressures".
What safeguards were agreed for supporters?
- The club's shares in County Ground Stadium Custodians Limited were excluded from any debenture.
- The club's lease of the stadium was protected.
- Debentures could be held only by entities wholly owned by Mr Morfuni, or by a future owner, so they could not be sold on to outsiders.
TrustSTFC said it "objects in principle to ownership loans being secured by debentures". The Trust was due to receive written confirmation of the agreed changes by the end of May 2026.
Source: Swindon24.
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