Thu, 17 Jan 2013 | ADMINISTRATION
Focus has been firmly on the high street so far this year due to the number of high profile businesses in administration. However, trouble is brewing in other sectors, including the football world.
Swindon Town FC is the latest team that could be pushed into administration if it can't find another way to reduce its debts, which are estimated at around £13 million.
A report from BBC Wiltshire highlighted the fact that entering administration could wipe around £9 million from the company's debts. With club owner Andrew Black unwilling to put in further funds, the company is keen to make itself more attractive to investors.
While lowering debt is attractive, the club will have to weigh this benefit up against the ten-point penalty that could be imposed by the Football League. The club is currently fifth in League One and is pushing for a promotion. Furthermore, while the administration should reduce its debts, it is also likely to mean that Swindon Town FC will need to sell some of its players.
If the club enters administration it will be the third time in its history that it has done so.
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