The curious case of the 2022 debenture: Making sense of the story has got more difficult with each chapter
07.05.26, 09:21 Updated 07.05.26, 09:52 5 Minute Read
Sam Morshead
The story of the 2022 debenture repayment rumbles on at Swindon Town in mid-2026, with the latest instalment only raising more questions about the way the episode has been explained down the years.
Back in the late summer and early autumn of 2022, Clem Morfuni was required to find around £2.8million at short notice to satisfy a demand from Andrew Curran – an associate of Lee Power – to repay a debenture which he had assumed from Power, who in turn had picked up the debt from another former Town owner, Andrew Black.
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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.