Swindon Town will ‘definitely survive’ says beleaguered owner Lee Power, who will sell to Clem Morfuni once EFL approval is given

Lee Power has told talkSPORT that Swindon Town will ‘definitely survive’ as he assured fans of the club’s future amid their financial struggles.

The Robins owner says he will transfer his remaining shares to minority shareholder Clem Morfuni once EFL approval is given and Axis match the £200,000 asking price.

Lee Power, left, wants to sell his shares at Swindon
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Swindon, who were crowned League Two champions a little more than a year ago, are in freefall due to their financial struggles, with Power admitting back in February the club was on the brink of bankruptcy.

The relegated team, finishing 23rd in League One last season, is still without a manager after former Colchester boss John McGreal and his assistant left in June within a month of their appointment, stating their positions were untenable.

Morfuni has been trying to buy the club and has the backing of the supporters’ trust. He is a minority shareholder who owns a 15% stake in Swindon’s holding company, Swinton Reds, and owns the building services contractor Axis.

In a wide-ranging interview with talkSPORT on Friday, Power said he was not prepared to fund the League Two side anymore and insisted there was more than one interested party should a deal with Axis fall through.

“It will definitely survive,” Power told White and Jordan.

Liverpool youngster Lawrence Vigouroux set to join Swindon Town on loan
With no manager and not enough players, Swindon are in turmoil
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“There’s another party willing to step in and take over if Axis don’t pass the various tests the EFL were asking.

“It’s one of those situations that need to be resolved sooner rather than later, simply because the football season is around the corner and we need to get a team on the pitch.”

The 49-year-old confirmed he was selling the club for just £200,000, having unsuccessfully tried to sell his shares to Able Company Swindon LLC 18 months ago for £7.5million.

On the current state of play, Power said: “The court made an order and I’m abiding by that court order and I’m sure Clem will once he’s overcome these hurdles he’s having at the moment.

“What my concern is, and I’ve been on to the EFL this week and last week, purely from a financial side and I believe there is some hurdles for him to overcome.

“I don’t believe the proof of funds are there necessarily, but that’s for the EFL to deal with and that’s why this is dragging on.”

Swindon Town were crowned League Two champions in the 2019/20 season
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Comparisons have also been made with Swindon’s current situation and Bury’s previous sad demise, claims which Power denies.

“I think it’s a completely different situation and that’s what’s quite annoying.

“I funded this club for eight years and obviously there’s another court battle going on in the background.

“Simon will be aware that any football owner seeks investment or funds whether it’s from a bank, investment funds or different sources.

“Ultimately I took on that responsibility and I funded this football club.

“I tried to sell the football club since we got promoted and it didn’t work out and I’ve been forced to sell it to Axis.”

John McGreal was appointed Swindon Town manager on May 26, but departed the in-trouble club less than a month later on June 25
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On his relationship with supporters and the local press, he added: “It’s a frustrating situation. I don’t go on social media and I don’t deal with the local press.

“Obviously like a lot of supporters they are cheering for their club, I understand that as they’re worried about the club and the season is starting.

“There’s only a small amount of players and the manager left, the CEO left, the Groundsman left.

“And that was all because of the new people coming in went on podcasts and every other media platforms to tell them they’d got all these new positions filled.

“It’s quite absurd really, but unsurprising as I don’t get on with the local newspaper or the Supporters’ Trust, it’s gets run through social media that I’m holding it up.

“It’s quite clear this can’t happen until Clem passes these tests and once that happens and they obviously perform the court order the shares obviously get transferred straight away.”