League One - Swindon announce change of ownership

Swindon have confirmed a change of ownership to Swinton Reds 20 Ltd, owned by director of football Lee Power.

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The County Ground (PA)

The League One club, however, insist the announcement brings about "no fundamental changes" at the County Ground.

A statement on Town's official website on Tuesday morning read: "STFC are pleased to announce the change of ownership of STFC to Swinton Reds 20 owned by director of football, Mr Lee Power.

"The change of ownership signals no fundamental changes in the club but has been executed post the completion of the audit in line with the intent of the consortium led by Mr Jed McCrory who acquired STFC.

"Since the takeover Mr Power has injected B£1.2m for a limited period of time to release the embargo enforced by the Football League at the time of takeover.

"Since then he has provided the entire funding to ensure the financial ongoing probity of the club.

"Mr Power has also furnished the Football League with further proof of funds to underwrite the future liquidity of the club.

"STFC would like to thank The Football League for its assistance to date."

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