Thetownend.com

Swindon Advertiser

Sports Comment Saturday 30th June 2007

By Steve Butt, Sports Editor

DAY OF RECKONING HAS ARRIVED BUT ANSWERS HAVEN'T

Today is D-Day for Swindon Town's CVA payment.

Of course it's nothing to worry about, it's only the small matter of a £900,000 payment after all!

Over a month ago, Company Voluntary Arrangement supervisor Andrew Andronikou spoke confidently about "securing the club's future for the next three to four years" with talk of a new major investor.

At the time Andronikou claimed a deal with the new mystery investor could be announced within three to four weeks.

Six weeks have now passed since Andronikou made those claims and, unless we have missed something, I can't see any sign of the new investor can you?

Mutterings of another new investor emerged this week. Fine, but who? when? how?

And with the CVA payment now due, just how is the payment going to be made?

Maybe a new investor will bail the club out at the 11th hour, then again maybe they won't!

We've waited six weeks for news on the new investor amd details of how the CVA payment will be made but still nothing.

I'm sure, by hook or by crook, the payment will be met or maybe it will be renegotiated as Andronikou has suggested possible previously.

Of course, the threat of the club being wound up is very real.

However, whether the CVA is met or missed today, I'm pretty confident that the club won't be wound up just yet.

But as we have previously stated, the silence from Mr Andronikou and the club is deafening.

For the record, the Swindon Advertiser has tried to contact Mr Andronikou practically every day since he was last quoted.

Unfortunately though, despite all our efforts, Mr Andronikou has not made himself available for comment.

Shame, especially as Mr Andronikou is supervising the CVA and is realistically the only person who is qualified to comment on the matter.

As busy as I am sure he has been, Mr Andronikou SHOULD (Adver caps) have commented on this matter by now.

Surely it is his duty to do so?

The fans deserve reassurance about how the CVA payment will be made, renegotiated or how the long-term future of the club will be secured.

Sadly such comments have not been forthcoming and today is day of reckoning.

But now, after all the silence a statement from the club and Mr Androniku is well overdue.

Such a statement is now a necessity and Town fans are now, more than ever before, well within their rights to demand answers!

I'm sure the relevant answers will arrive by next week and, one way or another, this matter will be resolved.

Shit. I've just realised that there isn't anything mysterious about me now.

 :(

You'll have to settle for being strange.




 :D

You'll have to settle for being strange.




 :D

He settled for that years ago


 :wink:

Anyone think it's the Lukas money finally coming in?

is it just me that's finding this wait horrible? it's like a snail crawling along the edge of a straight razor

I'm not finding it horrible. I'm 99% sure the board have come up with some plan which means that the club continues. Unfortunately, I'm just as certai nit also involves them remaining in charge of it, and I'm not too confident about the effect it will have in the long term

The thing is though, even IF by some form of magic (known as creative accounting) they have found a way to pay this bullet payment, or by an even greater stroke of fortune manage to renegotiate the T&C of the CVA, there is still the year-on-year operating loss of somewhere around 750k per annum to factor in. Not a good prospect for longevity in a business sense.

Anyone think it's the Lukas money finally coming in?

Monday Monday,

no good for me,

Not online, so here you go: