BOB Holt has hit out at claims that Swindon Town Football Club are in the last chance saloon' and that their future is in the balance.

Speculation that the Inland Revenue and the club's creditors are on the brink of winding the club up is wide of the mark, according to Holt.

The Town director, pictured below, was desperate to reassure fans that, as far as he was concerned, the Andrew Fitton-led takeover deal was still very much on course and the club's commitments to its creditors were being honoured.

"Contrary to some reports, it is not a case of this being the last chance saloon for the club, far from it, we are still busy serving drinks.

"We have a good relationship with the Inland Revenue, we are in constant dialogue with them and the creditors and, unless anyone knows anything different, they are still being patient with us because they want their money.

"They have been kept fully informed with all developments in the takeover and although it is running slightly slower than expected, we are not aware that they are losing patience with us. We are working to deadlines agreed with them and they are giving us every opportunity to make this deal go through."

While speculation mounted this week that Fitton's takeover bid had hit a stumbling block, Holt moved quickly to dispell the reports.

"The fans should not worry," added Holt. "I want to reassure them that everything is still on track. There is nothing for them to worry about.

"As I have said before a standard contract has been submitted and lots of elements of it will be crossed out and some will be contenious but that is only natural for a business deal of this nature. Both parties want the best deal they can get.

"There is nothing to worry about unless Mr Fitton has had a change of heart, which as far as I am aware, is not the case."

Holt also revealed that Town have a back-up plan if they encounter the worst-case scenario and the current takeover bid fails.

"If Mr Fitton does have a change of heart we have a back-up plan," added Holt. "The Wills family are already looking into alternative funding should things go wrong and we are desperate. However, we obviously hope that does not happen and we are still confident of this takeover deal going through."