US firm makes £7m bid to buy Swindon Town (but club denies any knowledge)
AN American consortium has made a offer of more than £7million to buy Swindon Town Football Club, according to documents seen by the Swindon Advertiser.
Able Company Swindon LLC, a US company, presented its final offer to purchase the club from owner Lee Power in a letter dated September 11.
The letter, which confirms Able’s offer expired on September 18, states a £100,000 deposit – refundable upon the offer’s execution – will be paid by Able.
Deposit funds will then be used to settle any club debts, liabilities, claims or obligations should an agreement be reached by Mr Power to sell the club and its assets.
When contacted by the Adver, Swindon Town Football Club denied any knowledge of Able’s offer, adding that the club is not up for sale and no offers of any nature have been made to purchase the football club.
Able’s letter confirms the company’s agreement to make additional payments to Mr Power post-sale in the event of promising right back Jayden Bogle being sold by Derby County.
Bogle, who left Swindon Town in 2016 for Derby, was heavily linked with a move to Premier League giants Aston Villa during the summer transfer window – with Newcastle United manager Steve Bruce reportedly interested in securing the teenager’s services.
Able’s final offer to Mr Power confirms that Swindon Town’s current owner will receive 40 per cent of the club’s received revenue from Derby County within 60 days of a possible transfer being triggered.
The letter, written and signed by William Keravuori, of Able Company Swindon LLC, states Able shall have 60 days from the acceptance of the offer to investigate and review aspects of the club.
Mr Keravuori concludes the letter stating: “Thank you for the chance to pursue this intriguing opportunity.
“We understand the rich history and social importance that this team (Swindon Town) holds within the fabric of the community in Swindon.
“We hope that our stewardship of this team will lead to even greater, sustained success and enjoyment for all Swindon fans as we execute our business plan.”
The Adver approached Swindon Town Supporters’ Trust for a comment amid efforts to finalise the joint purchase of the County Ground’s freehold with the football club from Swindon Borough Council for £2.2million.
The Trust declined to comment at this stage.
On March 5, Mr Power confirmed an agreement in principle had been reached to buy the County Ground from the council, hailing the purchase as a fantastic opportunity that can generate significant income in time.
He added: “(With ownership) It (the County Ground) becomes a seven-day-a-week venue that receives significant income that helps on the football side.
“This football club has never had that – this gives us a fantastic opportunity as a football club to get some extra revenue in, make the stadium modern and more welcoming.
“We’ll work with Steve Mytton (Trust chairman) and the supporters to make it a home they can be proud of.”
The Adver contacted Able Company Swindon LLC’s solicitors for a comment. They failed to respond before the Adver went to print.
HUNDREDS of people have turned out to help plant 5,000 trees for the Woodland Trust at the Avoncliff Wood near Freshford. Around 260 were ex...
A Wiltshire adventurer and her fiance have recently returned to the UK having completed the entire 2,653-mile walk from Mexico to Canada. Re...