Debts to Clem Morfuni surpass £10m as Swindon Town post substantial loss for 2024/25
27.02.26, 18:30 Updated 02.03.26, 13:23 3 Minute Read
Sam Morshead
Swindon Town lost more than £2.5million in the year to May 2025, as loans to chairman Clem Morfuni and his Axis companies continued to grow.
Town’s accounts for the most recent full financial year were published on Friday (February 27), painting an increasingly stark picture of the realities of the football industry in 2026.
As previously reported by The Moonraker on multiple occasions, Morfuni has been propping up the club’s day-to-day operations at an average of more than £200,000 per month over the past year-and-a-half.
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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.