Swindon Town owner Clem Morfuni does not own 100 per cent of the club as previously thought.

The Australian businessman has said that he was forced to hand over shares in the club as security for an emergency loan to help cover £2.9m in debt he says he did not know the club was carrying.

Two individuals acquired around 20 per cent of the club in September 2022 in exchange for funds to help pay off the money owed, a debt which could have seen the club go into administration.

The magnate claims that most of the money has since been repaid and the majority of shares reclaimed, although a “small minority shareholding remains to these two individuals".

“They have had no interest in running the club and want no influence over the club whatsoever,” he said.

It comes after concerns amongst fans in recent days after documents revealed Axis Football Investments Ltd transferred shares in Swinton Reds 20 amounting to just over 20 per cent of the club to Bethany Parladoria and Hollie Kiely.

It was claimed at a fans’ forum event on Wednesday by Rob Angus that the documents were a “mistake” and that “[Clem] has confirmed to us that he is the 100 per cent owner of the football club”.

But in a statement issued by the club late on Thursday afternoon, Mr Morfuni has now said these two individuals do indeed own part of the club.

He said: “When I purchased the Club, there were some significant financial issues to overcome, including over £7 million of debt.

“I’ve done what I can there and put in nearly £6 million of my own money to steady the ship.

“I was aware of a possible outstanding debenture, but my understanding was it was debt that wasn’t due anytime soon.

“Obviously in the circumstances due diligence was impossible and I took the club as it was and inherited whatever I found.

“My understanding around the debenture proved to be wrong and something I believed wasn’t an issue became a huge issue and we suddenly had a few days to pay a £2.9 million debt or the club go into administration.

“I didn’t possess sufficient liquid funds at the time to settle the entire sum at such short notice while also addressing the substantial inherited debt.

“Money was borrowed from two individuals that I reached out to and shares in the club were utilised as security for the loan as virtually all my assets are in Australia.

“While most of the money has been repaid and the majority of the shares reclaimed a small minority shareholding remains to these two individuals. They have had no interest in running the club and want no influence over the club whatsoever.

“Mistakes happen. We're not perfect, and neither is any other club out there. What matters is how we own up to it, fix what needs fixing, and keep moving forward. I apologise to all supporters for the confusion this has caused.

“I have to run the club and make decisions and can’t run every decision by everyone but I can promise you whether my decisions are good or bad they are always made with the best interest of the club at heart.

“One promise I made when I took over was that I would never take a penny out of the club and would only put money into the club which I continue to do and I will always stand by that. 

“Because of the state of the club when I took over and the debenture, the amount I have put in so far has been far more than I anticipated, and the job has been tougher than I expected but I still maintain together we can run a sustainable club and get the club to the promotion and beyond where it should be.

“I hope that gives clarity on everything, I didn’t plan to make any statements but on the back of speaking to Rob Angus yesterday, I felt it was the right thing to do.

“Please continue your incredible support of our great club and let’s continue to work together to take it forward.”

For fans, this news has brought back the ill-feeling surrounding Lee Power and the legal battle over the club's ownership in 2021, which ultimately resulted in the Australian businessman Mr Morfuni taking control.

Earlier on Thursday, the supporters trust, TrustSTFC, urged the club to provide answers.

A spokesperson said: “Clem has repeatedly confirmed to us that he is 100% the owner of the Football Club during his ownership and we are seeking clarification from the club to understand how this error has occurred.”