Swindon AdvertiserTown's CVA finally signed off (From Swindon Advertiser)

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Town's CVA finally signed off

SWINDON Town have officially exited administration – a full two years after writing off the remainder of the club’s debt.

Andrew Fitton and his fellow board members met the terms of the Company Voluntary Agreement (CVA) way back in June 2008 – five months after taking control of the club – but it was only finally signed off on Wednesday.

And while the chairman was delighted to at last consign Town’s murky financial past to history, he revealed the hold-up was a major contributor to his recent public questioning of his future in the game.

“We are finally out, and people should be very pleased to hear that,” Fitton told the Advertiser.

“They probably though we were out a long time ago, but that wasn’t actually the case.

“It has taken two years and a huge amount of effort to get something to happen which was meant to happen in June 2008. But if you look at the Companies House website we are absolutely clean now.

“It was red tape and just legal issues whereby you cannot close out the CVA until everybody has cashed their cheques.

“There was a letter dated July 2008 saying we had fulfilled all our objectives, but that still wasn’t good enough.

“And at the same time you have people who are not fit and proper going under the radar and getting into other clubs – it just doesn’t add up.”

In the wake of Town’s League One play-off final defeat to Millwall, Fitton hinted that he may have been ready to walk away from football after becoming “disillusioned” with the sport.

And he explained: “This situation is what a lot of my recent frustrations have been based on.

“We spent thousands of pounds on lawyers which has no influence on Swindon Town Football Club.

“It doesn’t help the players or help us win games. It is just crap that has to be swept up.

“Technically we could have been subjected to a transfer embargo, but thankfully the Football League were very good and decided that we had done everything we could and lifted it soon after we arrived at the club.

“I wish I could say the same about the FA though. They suspended our membership, meaning we weren’t even allowed a vote with them because they think we are a club who are financially delinquent.

“Should the FA have spent their time suspending our membership, or should they be sorting out the problems in our game?

“This is something celebrate. But you can now put into perspective my frustrations outside the game.”

Comments (34)

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10:14am Fri 4 Jun 10

Custodian says...

Well done that man, again.
Well done that man, again. Custodian
  • Score: 0

10:30am Fri 4 Jun 10

Lazaat says...

Dont let those idiots get you down Andrew! The people that really matter of the supporters of Swindon Town FC and we couldnt think more highly of you. You and Nick Watkins have done a magnificent job in the short while you have been here, we all thank you deeply for that and we hope very much you will carry on, as a lot of us said in the other thread...you are irreplaceable so long may your stay as our chairman continue! Thank you again.
Dont let those idiots get you down Andrew! The people that really matter of the supporters of Swindon Town FC and we couldnt think more highly of you. You and Nick Watkins have done a magnificent job in the short while you have been here, we all thank you deeply for that and we hope very much you will carry on, as a lot of us said in the other thread...you are irreplaceable so long may your stay as our chairman continue! Thank you again. Lazaat
  • Score: 0

10:33am Fri 4 Jun 10

Salisbury Dan says...

Well done Mr Fitton Top Man.
Well done Mr Fitton Top Man. Salisbury Dan
  • Score: 0

11:23am Fri 4 Jun 10

swindonslicker says...

Thank you for turning the club from rags to riches, we owe you so much. Much appreciated. Thanks for saving our club, I hope you keep your commitment for years to come.
Thank you for turning the club from rags to riches, we owe you so much. Much appreciated. Thanks for saving our club, I hope you keep your commitment for years to come. swindonslicker
  • Score: 0

11:42am Fri 4 Jun 10

dave bamber`s caravan says...

i'll 2nd all of the above comments
top geezer!
i'll 2nd all of the above comments top geezer! dave bamber`s caravan
  • Score: 0

11:49am Fri 4 Jun 10

dirty stan says...

we should get a big bronze statue of Fitton in the middle of the magic roundabout.


A Fitton - Saviour of the Red Army.
we should get a big bronze statue of Fitton in the middle of the magic roundabout. A Fitton - Saviour of the Red Army. dirty stan
  • Score: 0

12:00pm Fri 4 Jun 10

RedBrum says...

Fitton is class! Never was the club in safer hands and I would rather have Fitton and be in League One than Mr Bates and be in the Championship!
Fitton is class! Never was the club in safer hands and I would rather have Fitton and be in League One than Mr Bates and be in the Championship! RedBrum
  • Score: 0

12:08pm Fri 4 Jun 10

batch says...

Come on Mr F. You can't expect the FA to devote time to our club. They are far too busy ballsing up any chance we had of the 2018 World Cup.

Some people would think the FA is run by the old and infirm. Oh.
Come on Mr F. You can't expect the FA to devote time to our club. They are far too busy ballsing up any chance we had of the 2018 World Cup. Some people would think the FA is run by the old and infirm. Oh. batch
  • Score: 0

1:20pm Fri 4 Jun 10

Morei says...

Sir Fitton & Co, WE'RE NOT WORTHY!!!!
Sir Fitton & Co, WE'RE NOT WORTHY!!!! Morei
  • Score: 0

1:29pm Fri 4 Jun 10

nlorenzo says...

Andrew, as you know we have a history with the FA. They are are only interested in the big guns and the old boys network. Keep fighting. You have the support not just of the club but the whole town, which you are helping put back on the map after a grim time in the recession. I have a friend whos been unemployed for over a year and you cant imagine what this successful season has meant for him personally during an otherwise difficult time. Thank you.
Andrew, as you know we have a history with the FA. They are are only interested in the big guns and the old boys network. Keep fighting. You have the support not just of the club but the whole town, which you are helping put back on the map after a grim time in the recession. I have a friend whos been unemployed for over a year and you cant imagine what this successful season has meant for him personally during an otherwise difficult time. Thank you. nlorenzo
  • Score: 0

1:45pm Fri 4 Jun 10

avo says...

"One Andrew Fitton"
"One Andrew Fitton" avo
  • Score: 0

1:58pm Fri 4 Jun 10

zippy1722 says...

a true legend. the saviour of swindon town and a top man.you have our support so forget the fa. i agree above, we need a statue of sir andrew fitton outside the town end.
a true legend. the saviour of swindon town and a top man.you have our support so forget the fa. i agree above, we need a statue of sir andrew fitton outside the town end. zippy1722
  • Score: 0

2:40pm Fri 4 Jun 10

jillyh says...

RedBrum wrote:
Fitton is class! Never was the club in safer hands and I would rather have Fitton and be in League One than Mr Bates and be in the Championship!
Well said RedBrum. This must have been the problem AF referred to when he was so frustrated with the result. We are so very lucky to have such a sound and sensible Chairman and Board. Thank you very much Mr Fitton and All.
[quote][p][bold]RedBrum[/bold] wrote: Fitton is class! Never was the club in safer hands and I would rather have Fitton and be in League One than Mr Bates and be in the Championship![/p][/quote]Well said RedBrum. This must have been the problem AF referred to when he was so frustrated with the result. We are so very lucky to have such a sound and sensible Chairman and Board. Thank you very much Mr Fitton and All. jillyh
  • Score: 0

2:41pm Fri 4 Jun 10

wiltshirewarrior says...

Thanks a million Andrew - you are the Saviour of STFC. Finally out of the quagmire we've been floundering in for years!

Arise Sir Fitton!!
Thanks a million Andrew - you are the Saviour of STFC. Finally out of the quagmire we've been floundering in for years! Arise Sir Fitton!! wiltshirewarrior
  • Score: 0

3:16pm Fri 4 Jun 10

moonraker909 says...

Really glad to hear this news, and that of AFs plans to stay with Town. It's great to have a chairman that wants to give something to the club rather than a short Irish jockey that gave nothing. Keep the faith Town fans, the pain from Wembley gets less each day. Can't wait for next season. COYR
Really glad to hear this news, and that of AFs plans to stay with Town. It's great to have a chairman that wants to give something to the club rather than a short Irish jockey that gave nothing. Keep the faith Town fans, the pain from Wembley gets less each day. Can't wait for next season. COYR moonraker909
  • Score: 0

3:27pm Fri 4 Jun 10

Finsbury says...

dirty stan wrote:
we should get a big bronze statue of Fitton in the middle of the magic roundabout.


A Fitton - Saviour of the Red Army.
Give it a few more years; he will definitely be a legend by then.
[quote][p][bold]dirty stan[/bold] wrote: we should get a big bronze statue of Fitton in the middle of the magic roundabout. A Fitton - Saviour of the Red Army.[/p][/quote]Give it a few more years; he will definitely be a legend by then. Finsbury
  • Score: 0

4:15pm Fri 4 Jun 10

bobh says...

Great news for STFC, it is so important that any football club is well run from the very top.
Great news for STFC, it is so important that any football club is well run from the very top. bobh
  • Score: 0

5:15pm Fri 4 Jun 10

WiltshireLeppard says...

A knighthood for Mr. Fitton!
A knighthood for Mr. Fitton! WiltshireLeppard
  • Score: 0

5:36pm Fri 4 Jun 10

Another view says...

The Only Way is UP!!!
True gentlemen running this club.

My bad mood from last Saturday is beginning to lift just a little bit more. I still want to kick every player's @rse for the shambles at Wembley, but there is no doubt the management of this club is Premier League.

8,000 real fans want to buy you guys a drink.
The Only Way is UP!!! True gentlemen running this club. My bad mood from last Saturday is beginning to lift just a little bit more. I still want to kick every player's @rse for the shambles at Wembley, but there is no doubt the management of this club is Premier League. 8,000 real fans want to buy you guys a drink. Another view
  • Score: 0

6:18pm Fri 4 Jun 10

sw1ndon says...

Lazaat wrote:
Dont let those idiots get you down Andrew! The people that really matter of the supporters of Swindon Town FC and we couldnt think more highly of you. You and Nick Watkins have done a magnificent job in the short while you have been here, we all thank you deeply for that and we hope very much you will carry on, as a lot of us said in the other thread...you are irreplaceable so long may your stay as our chairman continue! Thank you again.
Let us not forget the other members of the consortium.
[quote][p][bold]Lazaat[/bold] wrote: Dont let those idiots get you down Andrew! The people that really matter of the supporters of Swindon Town FC and we couldnt think more highly of you. You and Nick Watkins have done a magnificent job in the short while you have been here, we all thank you deeply for that and we hope very much you will carry on, as a lot of us said in the other thread...you are irreplaceable so long may your stay as our chairman continue! Thank you again.[/p][/quote]Let us not forget the other members of the consortium. sw1ndon
  • Score: 0

6:20pm Fri 4 Jun 10

Highworth red says...

Who cares what those morons at the FA think, when they mess the game up and the big guns are going down the pan, it will be left to the well run clubs to take over. Keep the great work up, we love you for it!!!
Who cares what those morons at the FA think, when they mess the game up and the big guns are going down the pan, it will be left to the well run clubs to take over. Keep the great work up, we love you for it!!! Highworth red
  • Score: 0

6:22pm Fri 4 Jun 10

westburyred says...

Another view wrote:
The Only Way is UP!!! True gentlemen running this club. My bad mood from last Saturday is beginning to lift just a little bit more. I still want to kick every player's @rse for the shambles at Wembley, but there is no doubt the management of this club is Premier League. 8,000 real fans want to buy you guys a drink.
This is exactly the only way we can give our appreciation to Mr Fitton and that`s by turning 8,000 loyal fans into 15,000 fan`s every home game,he doesn`t want statues or probably even praise,just a full house every home game will speak volumes of our thanks to him.
[quote][p][bold]Another view[/bold] wrote: The Only Way is UP!!! True gentlemen running this club. My bad mood from last Saturday is beginning to lift just a little bit more. I still want to kick every player's @rse for the shambles at Wembley, but there is no doubt the management of this club is Premier League. 8,000 real fans want to buy you guys a drink.[/p][/quote]This is exactly the only way we can give our appreciation to Mr Fitton and that`s by turning 8,000 loyal fans into 15,000 fan`s every home game,he doesn`t want statues or probably even praise,just a full house every home game will speak volumes of our thanks to him. westburyred
  • Score: 0

8:26pm Fri 4 Jun 10

mancrobin says...

Hark now hear, the Swindon sing,
The taxman's run away,
And we will sing for ever more,
King Andrew's saved the day.

Cheers Mr Fitton!
Hark now hear, the Swindon sing, The taxman's run away, And we will sing for ever more, King Andrew's saved the day. Cheers Mr Fitton! mancrobin
  • Score: 0

9:12pm Fri 4 Jun 10

batch says...

Andronikou finally learnt how to sign his name then.

The CVA being signed off is great news!
Andronikou finally learnt how to sign his name then. The CVA being signed off is great news! batch
  • Score: 0

9:56pm Fri 4 Jun 10

Oi Den! says...

nlorenzo wrote:
Andrew, as you know we have a history with the FA. They are are only interested in the big guns and the old boys network. Keep fighting. You have the support not just of the club but the whole town, which you are helping put back on the map after a grim time in the recession. I have a friend whos been unemployed for over a year and you cant imagine what this successful season has meant for him personally during an otherwise difficult time. Thank you.
Not sure we have much of a history with the FA. Maybe the ridiculous extra match ban for Douglas last year but I can't recall anything else. We received a savage punishment from the Football League in 1990, which the FA actually reduced on appeal. Have I forgotten something? Anyway, I agree with the general theme of these posts. Fitton is certainly the best chairman the club has had in my lifetime. But I'd still be intigued to know how he made the club attractive to his fellow investors.
[quote][p][bold]nlorenzo[/bold] wrote: Andrew, as you know we have a history with the FA. They are are only interested in the big guns and the old boys network. Keep fighting. You have the support not just of the club but the whole town, which you are helping put back on the map after a grim time in the recession. I have a friend whos been unemployed for over a year and you cant imagine what this successful season has meant for him personally during an otherwise difficult time. Thank you.[/p][/quote]Not sure we have much of a history with the FA. Maybe the ridiculous extra match ban for Douglas last year but I can't recall anything else. We received a savage punishment from the Football League in 1990, which the FA actually reduced on appeal. Have I forgotten something? Anyway, I agree with the general theme of these posts. Fitton is certainly the best chairman the club has had in my lifetime. But I'd still be intigued to know how he made the club attractive to his fellow investors. Oi Den!
  • Score: 0

10:24pm Fri 4 Jun 10

Oi Den! says...

Sorry, meant "intrigued" - must be more careful!
Sorry, meant "intrigued" - must be more careful! Oi Den!
  • Score: 0

10:36pm Fri 4 Jun 10

Farteaboy says...

With all the disappointment of Wembley I guess we've all forgotten how lucky we are to still have a club at all.

We went through some very dark days indeed . A million thanks to Andrew Fitton and all his mates for saving the club that means so much. to us.
With all the disappointment of Wembley I guess we've all forgotten how lucky we are to still have a club at all. We went through some very dark days indeed . A million thanks to Andrew Fitton and all his mates for saving the club that means so much. to us. Farteaboy
  • Score: 0

10:40pm Fri 4 Jun 10

bowralbob says...

I too would like to thank AF for all his and his board of directors work in sorting out a monumental problem that was Swindon Town. We now have a strong framework for future growth. A good manager and a board that is committed to financial stability. The next couple of seasons are the most important as we need to convince fickle fans that we are going to climb back into the Championship very soon.Next season it is then, look forward and enjoy and encourage as many "new" fans as possible to watch the game live.It's a shame that TV football is both the lifeblood and curse of football in 2010.
I too would like to thank AF for all his and his board of directors work in sorting out a monumental problem that was Swindon Town. We now have a strong framework for future growth. A good manager and a board that is committed to financial stability. The next couple of seasons are the most important as we need to convince fickle fans that we are going to climb back into the Championship very soon.Next season it is then, look forward and enjoy and encourage as many "new" fans as possible to watch the game live.It's a shame that TV football is both the lifeblood and curse of football in 2010. bowralbob
  • Score: 0

12:01am Sat 5 Jun 10

avo says...

I would like to purchase a "one andrew fitton" banner with the swindon badge next to it, about 14 ft long by 2ft deep, to be permanently anchored alongside the south oxon reds banner at the top corner of the don rogers stand.
Mex red if you are reading this, can you help with this?
I would like to purchase a "one andrew fitton" banner with the swindon badge next to it, about 14 ft long by 2ft deep, to be permanently anchored alongside the south oxon reds banner at the top corner of the don rogers stand. Mex red if you are reading this, can you help with this? avo
  • Score: 0

6:51am Sat 5 Jun 10

Redhouse Red says...

Oi Den! wrote:
nlorenzo wrote:
Andrew, as you know we have a history with the FA. They are are only interested in the big guns and the old boys network. Keep fighting. You have the support not just of the club but the whole town, which you are helping put back on the map after a grim time in the recession. I have a friend whos been unemployed for over a year and you cant imagine what this successful season has meant for him personally during an otherwise difficult time. Thank you.
Not sure we have much of a history with the FA. Maybe the ridiculous extra match ban for Douglas last year but I can't recall anything else. We received a savage punishment from the Football League in 1990, which the FA actually reduced on appeal. Have I forgotten something? Anyway, I agree with the general theme of these posts. Fitton is certainly the best chairman the club has had in my lifetime. But I'd still be intigued to know how he made the club attractive to his fellow investors.
My understanding is they are relatively local (ish) gents. Who felt with their collective wealth they wanted to give something back and felt that a football club was a ideal opportunity. They looked at Swindon thought yep we could turn that around. They are also determined to prove that football club can be run in a sustainable way, without needing constant support from investors. If they can do that with towns basket case financial history then the blue print should really work for any club
[quote][p][bold]Oi Den![/bold] wrote: [quote][p][bold]nlorenzo[/bold] wrote: Andrew, as you know we have a history with the FA. They are are only interested in the big guns and the old boys network. Keep fighting. You have the support not just of the club but the whole town, which you are helping put back on the map after a grim time in the recession. I have a friend whos been unemployed for over a year and you cant imagine what this successful season has meant for him personally during an otherwise difficult time. Thank you.[/p][/quote]Not sure we have much of a history with the FA. Maybe the ridiculous extra match ban for Douglas last year but I can't recall anything else. We received a savage punishment from the Football League in 1990, which the FA actually reduced on appeal. Have I forgotten something? Anyway, I agree with the general theme of these posts. Fitton is certainly the best chairman the club has had in my lifetime. But I'd still be intigued to know how he made the club attractive to his fellow investors.[/p][/quote]My understanding is they are relatively local (ish) gents. Who felt with their collective wealth they wanted to give something back and felt that a football club was a ideal opportunity. They looked at Swindon thought yep we could turn that around. They are also determined to prove that football club can be run in a sustainable way, without needing constant support from investors. If they can do that with towns basket case financial history then the blue print should really work for any club Redhouse Red
  • Score: 0

8:58am Sat 5 Jun 10

burley01rs says...

Remember Spurs committed the same offences as we did for our 1990 demotion and only got fined. Says it all really but now we have a very shrewd cookie in Mr. Fitton. God bless you sir.
Remember Spurs committed the same offences as we did for our 1990 demotion and only got fined. Says it all really but now we have a very shrewd cookie in Mr. Fitton. God bless you sir. burley01rs
  • Score: 0

9:22am Sat 5 Jun 10

Jock Strop says...

But I'd still be intigued to know how he made the club attractive to his fellow investors.

Maybe something to do with ultimately purchasing the freehold of the CG ala re-development?
But I'd still be intigued to know how he made the club attractive to his fellow investors. Maybe something to do with ultimately purchasing the freehold of the CG ala re-development? Jock Strop
  • Score: 0

10:53am Sat 5 Jun 10

RED GRANTY says...

Well done and thanks to AF and all who have worked with him to have finally met the terms of this CVA despite obviously encountering some difficult obstacles and frustrating personalities. Fighting through this is much more important at the moment than we can imagine because as i keep outlining it is another foundation block set in place. AF is doing his bit and we must do ours to help encourage more local people to support their local club which is more and more becoming a local club to be proud of. The ultimate objective must be to improve our attendances.Forget all about BP now.This is the last time i shall refer to him.He has left for more wages and thats it.We cant compete with these sorts of wages at the moment and if we did on the attendances we currently get we would be back to sqare one.I look forwards to the future when we are perhaps in an even stronger position and can offer better contracts etc. but these things take time.Having come through the CVA i am now turning my focus on to the ground re-developement.I dont know how things are going but i would now like to see how the local council etc works with AF.Help him as much as you can.AF DESERVES IT.
Well done and thanks to AF and all who have worked with him to have finally met the terms of this CVA despite obviously encountering some difficult obstacles and frustrating personalities. Fighting through this is much more important at the moment than we can imagine because as i keep outlining it is another foundation block set in place. AF is doing his bit and we must do ours to help encourage more local people to support their local club which is more and more becoming a local club to be proud of. The ultimate objective must be to improve our attendances.Forget all about BP now.This is the last time i shall refer to him.He has left for more wages and thats it.We cant compete with these sorts of wages at the moment and if we did on the attendances we currently get we would be back to sqare one.I look forwards to the future when we are perhaps in an even stronger position and can offer better contracts etc. but these things take time.Having come through the CVA i am now turning my focus on to the ground re-developement.I dont know how things are going but i would now like to see how the local council etc works with AF.Help him as much as you can.AF DESERVES IT. RED GRANTY
  • Score: 0

11:03am Sat 5 Jun 10

RED GRANTY says...

Sorry i misssed the u out of the wurd square in my preevyust post but my spELLing is knot what it was.
Sorry i misssed the u out of the wurd square in my preevyust post but my spELLing is knot what it was. RED GRANTY
  • Score: 0

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