BILL Power has severed all connections with Swindon Town with ill-health rather than a rift' cited as the sole reason for his departure.

The club insist the sudden loss of financial clout does not suddenly constitute a crisis' although they admit there is now a projected overspend of around £700,000.

The former QPR chairman is still recovering from the injuries sustained in last month's plane crash and following a meeting with Power's wife and business partner Phil Emmel, the club have said an amicable parting is the outcome.

Power has invested more than a million pounds in the club since arriving on the County Ground scene back in May.

Director Bob Holt says the news is disappointing but not entirely surprising and that it should not be seen as the catalyst for a fresh County Ground crisis.

Holt and acting chief executive Martin Stames admit Power's departure does leave a hole but they deny that it is a gap that cannot be filled.

However, they are unable to yet say whether Power will be seeking his investment back.

A projected six-figure overspend is predicted for this year but Holt is adamant that it is manageable'.

Holt insists Town have been through much tougher scrapes than this and that the dark days of four years ago are not looming on the horizon once again.

He said: "We are all very disappointed as we did think we had a final solution (to the financial woes).

"There was media speculation about some rift within the board. It is not the case.

"We had a very friendly meeting with Bill's wife and Phil (Emmel).

"The disappointing news was that because of the seriousness of Bill's illness and the fact that he won't be returning to work for at least 18 months, he is unable to fulfil the role at the County Ground that he originally intended, therefore would not be taking up a position as a director or an executive role.

"But you have to respect the seriousness of the plane crash.

"A person's health is of paramount importance and must be respected.

"If he doesn't feel he's up to doing the job because of the injuries, there's no question he has to look after his own health.

"His wife said she'd never known Bill have such little interest in sport and football since the accident.

"I think there is disappointment on their side as well as ours."

Holt says there is an overspend and authorisation issue which they expect to discuss with chief executive Mark Devlin upon his return to the County Ground.

He said: "We are over budget in playing and non-playing areas but that can be addressed because we've still got eight months of the season and we've time to put it right.

"Overspends on costs may be justified by expected increase in revenues."

So with Power gone and no hope of his return, will he be seeking to take out what he so recently put in?

Holt said it was a question the club did not yet have an answer to.

He said: "He put a million pounds in for 33 per cent of the football club (the shares purchased from major shareholder Sir Seton Wills).

"As I understand it this was share capital which was purchased.

"There are some smaller amounts that Bill put in on top of that, which may treated as a loan.

"As far as I'm aware, and we'll take advice on this, this was a share capital purchase and as such, he can sell his shares to whoever he likes, subject to their shareholders agreement.

"So, yes, it is a bit of a worry and a concern but nowhere near the magnitude of the problems we've faced in the past."