Clem Morfuni pays £1.4m to unidentified third-party creditor, with debt secured against club's assets in new debenture
06.05.26, 20:28 Updated 07.05.26, 09:52 6 Minute Read
Sam Morshead
A new debenture has been registered against Swindon Town by one of chairman Clem Morfuni’s Axis group of companies.
The debt, which has been secured against the club’s assets, is a result of Morfuni having to find £1.4million to satisfy a third-party creditor.
That creditor is believed to have lent money to Town in the autumn of 2022, as part of a short-notice fundraising initiative which was required to prevent the club potentially being placed into administration.
The urgency back in 2022 was triggered by a demand by Andrew Curran, an associate of Lee Power, to pay back a debenture to the tune of around £2.8m. Power had previously assumed the debenture from one-time Town owner Andrew Black.
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