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Thursday, May 24, 2007

Ex-QPR Chairman Bill Power on Swindon's Possible "Mystery" Investor

This is Wiltshire -SWINDON TOWN: Power still ready to deal
By Andy Cryer
Bill Power insists news of a potential mystery investor at the County Ground is "wonderful" for the club but has reassured fans his money is still there if it proves another false dawn.
The Town investor is backing the fans' consortium's takeover bid with big money but has described any rival investor as "only positive news for Swindon Town."
The former QPR chairman, who has already invested in the region of £1m into the club, believes the longer the saga continues the more likely it is the club will change hands, while insisting it does not matter who provides the funds.
The last few months have seen talks stall between the club and the consortium but, with the Non Disclosure Agreement still unsigned, Power has stated categorically he will not just walk away.
Last week, the Swindon Advertiser revealed the club were on the verge of sealing a multi-million pound deal with an investor and, despite cynicism from many, Power says he has no reason to doubt their claims.
He has though urged the current owners to explore all their options while admitting talks would have to progress quicker with the mystery investor' than they have with the consortium, if anything was to be finalised in the near future.
He said: "I haven't been that involved in things at the moment but obviously I have read all the rumours and do know the latest.
"If someone else is going to come in and invest more money into the club than us, then great, and I mean that.
"I think if this proves to be the case everyone will be happy.
"Not a single Swindon Town fan out there would deny if someone with money is out there, and with the interests of the club, then it is great stuff.
"But I won't hold my breath for things to happen too soon.
"Because if negotiations happen as quickly as they have with us, then nothing is going to happen for a long time."
Power, who was injured in a plane crash on his way back from Town's opening league game at Hartlepool last season, has already said he is prepared to pay over the odds for the club.
But he also admits he does not have a "bottomless wallet" and if someone can give the club more than him, then he will happily step aside.
He said: "We are still talking with the club.
"In the last couple of days more questions went back to be clarified and I don't think either party are going to rush things.
"We have still not seen the books and are waiting for our accountants to see them.
"It is pretty simple really they will have a look and say the club is worth X amount.
"I have said all along. If you tell me the club is worth X amount, I will pay X plus £1m.
"But if this investor can invest substantially more, of course the club should snap their hand off.
"The only way to look at this situation is in a positive way.
"If someone is out there, and I have no reason to question that, who can financially take the club on quicker then it is good news.
"I don't have bottomless funds, mind you I'm not sure anyone does.
"Still if someone has £50m to play with then losing £1m doesn't seem as much of a problem."
While many Town fans see the club's latest mystery investor as just another way of stalling Power & co's takeover bid, the man himself insists he won't be driven away.
"It is hard to believe anyone will have more interest for the club than we have," said Power.
"But let's not bring a negative side to this story.
"My money is here and it will be until I am told they are definitely going elsewhere.
"I think these are exciting times for Town fans.
"Money may not be everything but it does make things easier. If this investor can speed things ups then brilliant.
"All we want is for the club to get another promotion as soon as they can."
This is Wiltshire

See also - "May 20 -Update on Ex-QPR Chairman Bill Power's Swindon Investment Effort

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