SWINDON Town CEO Rob Angus is hopeful that the majority of the club’s inherited debts will be eradicated within the next 12 months.

When new owner Clem Morfuni arrived at the County Ground and appointed Angus as CEO, the pair set about working through around £4.5 million of debts.

A little over three months later, and the headline figure is down to near £2.6 million – a number that, while still alarming, shows the significant progress the club has made in turning a sinking ship around.

Speaking exclusively to Adver Sport one day after the club’s third advisory board meeting, Angus expressed his pride over the job he and his team have done so far but stated the hard work won’t stop any time soon as there is still plenty to be done.

Angus said: “We’ve made quite significant headway in the three months that we’ve been here.

“There is still quite a bit of debt to work through, admittedly, and we’ve still got to deal with some of the season-ticket refunds.

“But we’re massively appreciative of all the fans and sponsors that have waived refunds and bought again because that is a massive help while we’re clearing down these debts and putting the club on a path towards sustainability.

“I would hope that in 12 months’ time, other than the normal trade creditor-type debts and putting the EFL loan aside, most of this debt would have gone.”

The Town CEO stressed the importance of proper financial management and the effect it can have on a football club – both the playing side and the internal staff.

Angus said the plans remain in place for buying the ground and sorting out a more efficient training set-up for both the first team and the academy, but that this will not be possible unless the club can find a more sustainable way to run.

He said: “It’s now about trying to put good financial management and control in place, because what we want to try and save Clem’s investment for is the big things.

“Things like buying and developing the stadium, it’s investing in the training ground, the academy, the playing squad, rather than spending his money propping up a business that is losing money.

“So my job, and the task of the team here, is to make this football club as sustainable as we can.

“If we manage the debt and reduce it, we can then make sure that Clem’s money can be invested on things that will make a proper difference to the football club like buying players and things like that.”