Swindon Town FC owner Clem Morfuni has cleared a £1.4 million debt owed to an external creditor, marking a shift in the club’s financial structure as it moves past obligations dating back to 2022. The repayment, announced in early May 2026, was funded by Sixa Mechanical Pty Ltd, a company within Mr Morfuni’s Axis group, consolidating the debt under the owner’s control.
This debt originated during an emergency fundraising period in 2022, when the club faced the threat of administration after a demand for repayment was issued by Andrew Curran, an associate of former owner Lee Power. By settling this external liability, the club now reports that all of its remaining debt is owed internally to Mr Morfuni or his associated companies. As part of this consolidation, Mr Morfuni has also reclaimed full ownership of the club, with Axis Football Investments now serving as the sole parent company.
The TrustSTFC, the official supporters’ trust, has acknowledged the development while noting its long-standing objection to the principle of using debentures to secure ownership loans. However, the trust confirmed it worked with the club to secure important safeguards, such as protecting the club’s stadium lease and ensuring the County Ground stadium shares are excluded from these financial arrangements. Furthermore, the club has agreed that any future debentures will be restricted to entities fully owned by Mr Morfuni or any subsequent owner.
Club officials stated that clearing this liability is an important step in reducing external financial pressures, allowing the team to operate on a more stable footing. This financial update follows the conclusion of the 2025-26 season, where the club finished 9th in League Two with 75 points. While this transaction addresses the external creditor, the club’s total debt to Mr Morfuni and his companies was reported at £10.6 million at the end of the previous financial year in May 2025.
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