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Friday, November 24, 2006

Swindon Seek Negotiation With Creditors

Swindon have asked their creditors for a renegotiation of payment terms after missing June's deadline for a £100,000 payment.

The payment is due under the terms of their 2002 exit from Administration, and they have asked the Administrator for more time to make the £100,000 payment plus the final £900,000 instalment due in June.

The club have been dealt a further blow with the news that sponsors Nationwide are to end their backing of the side at the end of the season. The Swindon-based Building Society has been main sponsor of the club for the last 10 years.