Swindon Town Charged by EFL over a breach of regulation

SWINDON TOWN FC and its owner Clem Morfuni have been charged by the EFL over the transfer of shares within the club without declaring the change to the EFL.

According to companies house the 17.1% of voting right shares were transferred away from the owner Clem Morfuni without issuing a public notice on the club’s website or to the governing body the EFL.

The full EFL statement is as follows.

“The EFL has charged Swindon Town and majority owner Mr Clemente Morfuni with breaches of EFL Regulations, following the failure to declare a ‘Significant Interest’ share acquisition in the Club.

Mr Morfuni has been charged for a failing to disclose to the Club’s management the transfer of a 17.1% voting right shareholding to Mrs Hollie Kiely of Swinton Reds 20 Ltd in September 2022, which led to the Club breaching the requirement to disclose to the League details of any shareholder with more than 10% of voting rights and failing to update the official club website with the details for public record.

Confirmation of the share transfer came to light following its publication at Companies House in August 2023, meaning the Club had been in breach of its obligations for the majority of the 2022/23 season.

No charges have been issued in respect of a transfer of a 5% shareholding because that does not exceed the 10% reporting threshold in EFL Regulations. The charges will now be considered by an Independent Disciplinary Commission.” More on this story as we get it.

Image from: User:Fl72, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons

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