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TOWN TAKEOVER: How the takeover happened
6:00am Thursday 31st January 2013 in STFC News
THE story of how the takeover of Swindon Town has unfolded over the last two weeks.
Thursday January 17
Owner Andrew Black had been looking to sell his 98 per cent share in the club since the summer, but news of the club considering administration if a deal can’t be done by the end of January goes public. It is revealed a number of parties are in talks to buy Swindon.
Friday January 18
Black reveals that dealing with the stress of bankrolling the club for a prolonged period of time has had an adverse effect on his health. Manager Paolo Di Canio asks the fans to show their support and show potential investors why they should buy the club.
Saturday January 19
Chairman Sir Williams Patey wants to engage more than one of the interested parties in a bidding war to help get the best all-round package for the club.
Sunday January 20
The Football League Paper (FLP) publish a story branding Town, and former chairman Jeremy Wray, as cheats for commiting ‘financial doping’ on their way to winning the 2011/12 League Two title.
Monday January 21
Di Canio says the fact Town is for sale should help all aspects of the club work together with a single unified goal. The Adver reveals one of the groups looking to buy the club has pulled out. Town take action against the FLP.
Tuesday January 22
Four parties show an interest in buying the club, two of which are foreign. Town receive an apology, as well as damages, from the Football League Paper.
Wednesday January 23
The search for a new owner at Town continues, with club officials locked in talks with a number of interested parties. Two separate foreign investors are understood to be discussing the possible acquisition of a large chunk of Black’s 98 per cent stake in the Robins, along with at least two further potential buyers.
Thursday January 24
Town chief executive Nick Watkins confirms that talks with a handful of potential new owners are at “an advanced stage”. Three parties remain interested, with one believed to be ahead in their discussions.
Friday January 25
A fourth party enters advanced talks, with one domestic consortium still leading the way. One potential foreign investors has links with a club in Europe.
Saturday January 26
A domestic consortium is still believed to be the front-runner, but the Advertiser understands three other potential new investors remain interested.
Monday January 28
One domestic consortium is still believed to be the front-runner in the process and due diligence is understood to be well under way. Three other potential buyers, including two foreign parties, hold advanced discussions with Town.
Tuesday January 29
Reports surface suggesting Jed McCrory could be the man to head a consortium taking over Town. The senior figures in the deal are locked in talks.
Wednesday January 30
McCrory and his consortium are understood to have agreed the terms of a takeover. No official word is forthcoming from the club. Matt Ritchie is sold to Bournemouth.