Court Hearing Summary 19/4/21 – Power v Standing & AXIS Football Investment – TrustSTFC

Court Hearing Summary 19/4/21 – Power v Standing & AXIS Football Investment

At the latest Court proceedings in relation to the ownership of Swindon Town Football Club, TrustSTFC board members were in attendance. 

Here we bring you the latest information on what we know and what to expect in the coming weeks, and we’ve tried to make is straightforward as possible:

  • The court has ordered that Mr Power is not allowed to place the Club into administration, as things stand  
  • And Mr Power is also not allowed to push a sale through to Able (AC Sports Wiltshire LLC), for the time being 
  • Mr Power has until Friday 30 April to provide Mr Standing & Axis (Mr Clem Morfuni) with all information that had previously been provided to Able and the potential administrator
  • From this point, Axis will have some time to prepare their formal offer to purchase the Club, which they believe will be a better offer than that currently on the table by Able 
  • It is the hope of Judge Thompsell that a formal offer from Axis can be presented in the early weeks of May
  • Mr Power had agreed to terms of a sale with Able, and it was claimed he is happy with the deal on the table 
  • Mr Power has also stated through his legal team that he wasn’t happy with the details of the bid from Axis – he needs to make clear to Axis how he would like this offer to be improved 
  • In the meantime, all parties are to agree on the financial figure required to keep the Club operating 

Whilst there is no date set for a return to Court quite yet, we hope to have this information in the coming weeks. 

Judge Thompsell also suggested it would be beneficial for everyone involved to engage in discussions about options for moving forward, to agree on a sale. 

A few minutes after the case was adjourned, our Board Members present at the hearing joined Vic Morgan on the Official Supporter’s Club Facebook page for our immediate thoughts on what took place. 

You can watch the video below.

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