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Swindon considering administration


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http://www.bbc.co.uk/sport/0/football/21047858

 

Take the pain so that they can wipe £9m from their £13m debt. Or, to make it a little more real, so they can avoid having to pay back £9m to people they owe.

 

Football clubs may once have been community organisations, but now they seem more to be about screwing companies in their local areas. The special treatment so often demanded isn't deserved.

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Swindon owner Black was co-founder of betting exchange Betfair.

He was part of a consortium, led by ex-chairman Andrew Fitton, which took over Swindon in 2008.

Although rarely seen at the County Ground, his investment has put Town in the top 30 richest football clubs in England.

 

What the hell does that mean? 62 clubs owe more?

I think it's something about how rich the person bankrolling (or profiting) from the club is. So a really rich person who is involved in a football club makes that a very rich club. It doesn't matter how big their stake is or how much money they are putting in. I think someone like Cheltenham was very high because the bloke with money at the club was supposedly worth £800 million.

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