EFL APPROVES CLEM MORFUNI STFC TAKEOVER

The EFL has granted Clem Morfuni consent to acquire the controlling shares in Swindon Town FC after the Australian passed the regulatory body's fit and proper test earlier today. The EFL issued a statement to Total Sport Swindon that can be read in full below.

The statement from the EFL reads:

"The EFL is today in a position to confirm it has issued consent to the acquisition of the additional shares in Swindon Town by Mr Clem Morfuni in accordance with EFL Regulations, and it is now a matter for the shareholders to conclude any associated transactions. 

The EFL is looking forward to working with the new ownership as they seek to ensure a successful and viable long-term future for the Club. 

In addition, to these developments the League continues to review a number of matters relating to the previous ownership arrangements at the Club."

Earlier today it was confirmed that named owner Lee Power had transferred his shares to Morfuni's Axis Group after being ordered by a court to do so following the latest court hearing last month. The club are yet to make an official statement however they are expected to confirm the takeover soon.