Debt, doubt and distrust: Establishing clarity on Swindon Town's finances continues to be a challenge
20.03.25, 17:41 Updated 05.06.25, 20:03 8 Minute Read
Sam Morshead
For some time, senior figures at Swindon Town have pushed back against Trust STFC analysis that the debt situation at the club risks getting out of control.
The amount nominally owed to Clem Morfuni or his Axis companies is now more than £8million, and he is currently underwriting operating losses of around £1.2m-£1.5m annually.
In private and in public over the past nine months, Trust officials have been vocal with their concerns at how one set of debts have simply been replaced with another. But up to now the club have shrugged off those fears.
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Sam Morshead is the founder and editor of The Moonraker. He was previously the chief sports writer at the Swindon Advertiser, head of sport at Total Swindon, and has been a Swindon Town fan since 1994.