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Newly promoted League 1 club Swindon Town appear to be playing with fire as they continue to “flash the cash” despite still owing vast sums on existing debts.
The Western Daily Press has recently reported that Swindon Borough Council are still owed a “significant sum”. Councillor Nick Martin is still expecting Swindon Town to pay the debt they owe the Borough Council on time and in full. Under the terms of the Company Voluntary Agreement (CVA) brokered in August 2002, a payment of £900,000 is due on June 30 for the club to fulfil their obligations. Whilst no request has been received to amend the payment timetable, Cllr Martin insists that any attempt to revise the deadline would be rebuffed by the council.
Meanwhile, Swindon have apparently waved their financial magic roundabout wand to secure the £50,000 signing of Plymouth defender Hasney Aljofree on a three year deal, are closing in on a deal to bring former Swansea City striker Adebayo Akinfenwa to the County Ground and have arranged a not inexpensive pre-season tour of Germany.
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