LEE Power is preparing to sell Swindon Town Football Club, a court has heard.

Documents lodged with the High Court by lawyers for Michael Standing and Town part-owner Clem Morfuni reveal claims that chairman Lee Power is “apparently” preparing to sell the club. 

The court claim form, prepared by Hanover Bond Law and published on the High Court’s filing system this week, alleges simply that Mr Power plans to sell the club to a “third party”, understood to be American firm Able Company LLC.

The document asks the court for “appropriate relief” – essentially an injunction – preventing Mr Power from selling the club without the consent of Mr Morfuni’s company Axis Football Investments Ltd. It adds: “[Axis] is prepared to consent to a sale of the club to [Axis] itself.” 

The Adver understands that the case came before Deputy High Court Judge Thompsell for an urgent hearing on Wednesday afternoon, with the matter adjourned until next week.

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Last year, the High Court heard competing claims over the ownership of Swindon Town. 

Australian construction mogul Clem Morfuni claimed he had paid £1.1m in 2018 for a 15 per cent stake in Swindon Town holding companies Swinton Reds and Seebeck 87.

Six months after an injunction was made banning Mr Power from selling shares without Mr Morfuni’s consent, the pair settled the matter out of court. A 15 per cent stake in Swinton Reds 20 Ltd was transferred to Mr Morfuni’s company Axis Football Investments Ltd and among the terms agreed by Mr Power was an undertaking not to dispose of any assets without the written consent of all shareholders.

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During the court cases, Mr Power claimed that he would be forced to put the club into administration if he was unable to sell to American-registered firm Able Company Swindon LLC.

There remains confusion over the club’s ownership, with claims that up to 50 per cent of Mr Power’s share in the club is held in trust for former Premier League ace Gareth Barry’s agent Michael Standing.

An interim injunction, issued in 2019, prevents Mr Power from selling the club or shares in holding companies Swinton and Seebeck without Mr Standing’s permission.

A full injunction hearing is expected to take place at the end of 2021 or early 2022. The trial hearing is likely to last up to five days.

Last week, the Football Association charged Lee Power, Swindon Town, Michael Standing and his firm First Touch Pro Management with breaching regulations on working with intermediaries.

Under FA regulations, agents are not allowed to own clubs because of potential conflicts of interest. 

  • The Adver has approached representatives of Mr Morfuni, Mr Standing and Swindon Town Football Club for comment