League Two transfer round-up: EFL admit concerns with Swindon Town ownership situation while Leyton Orient sign Northampton striker
The Football League have released a statement regarding the ‘concerning’ ownership developments at Swindon Town.
The Robins are newly relegated into League Two and find themselves at the heart of an ownership wrangle involving current owner Lee Power and prospective Australian buyer Clem Morfuni.
Morfuni is looking to pass the EFL’s owners’ and directors’ while involved in a High Court legal battle with Power.
The current Robins owner has been ordered to sell the club against his wishes to Morfuni’s company Axis, who already own a 15% stake in Swindon’s holding company, Swinton Reds.
The delay in the sale has led to players and staff going unpaid and manager John McGreal quitting after only a month in charge.
While the EFL can’t directly intervene with club operations regarding a sale, it has released a statement on the matter.
It reads: “The EFL continues to monitor the ongoing concerning developments at Swindon Town alongside proceedings in the High Court in respect of ownership issues at the Club.
“As part of the ongoing court case, it has been determined that through Axis Football Investments Ltd, Mr Clem Morfuni has the option to acquire the shareholding off current owner Lee Power and as a consequence, control of the Club.
"Mr Morfuni has now made an application to the EFL for prior approval in accordance with the EFL’s Regulations before determining whether to take up that option.
“The League continues to work with Mr Morfuni, considering his application, such that if Mr Morfuni does acquire ownership, he is in a position to meet his obligations required under current rules.
“The EFL does, however, reserve its position in respect of any matters arising out of the ongoing situation at the Club and will take the most appropriate action available to it under its Regulations.”
Elsewhere in League Two, Leyton Orient have secured the signing of Harry Smith from Northampton Town. The 26-year-old striker has agreed a two year deal with Orient.
Meanwhile, Hartlepool United have confirmed a ‘healthy sell-on fee’ for goalkeeper Brad Young following his sale to Leicester City. Pools have also recently retained the services of key players Nicky Featherstone and Gary Liddle ahead of the new season.