Watkins: Ritchie sale necessary

Swindon say the sale of Matt Ritchie was necessary to secure the money to tide them over until their new owners are approved.

Last Updated: 31/01/13 at 21:26

Matt Ritchie: Sold to Cherries

Matt Ritchie: Sold to Cherries

Majority shareholder Andrew Black exchanged contracts with a consortium to acquire the League One club on Wednesday and that approval is expected to arrive in the next few days.

Just hours after those contracts changed hands Ritchie was sold to Bournemouth for an undisclosed fee.

"The club was put in a situation recently when the principle shareholder Andrew Black said he wished to withdraw funding from the club,"Robins chief executive Nick Watkins told the Swindon Advertiser.

"We were then in a very compressed timeframe required to try to seek new investors for the club.

"Had we not been successful in finding new investors I think every one of you would be aware that the club potentially was faced with a major financial reconstruction, and that could have led to administration.

"Luckily we were successful in identifying new owners to take over the majority shareholding of the club but there is now a short period of time between the transaction and the Football League agreeing to the owners and directors tests.

"During that time there is a requirement to fund the club and it was agreed between the current shareholders and the prospective new shareholders that the way to achieve that was to accept an offer from AFC Bournemouth from Matt Ritchie."

Related News

Most Commented

Readers' Comments

S

terling needs to be told though that upon entering the Arsenal squad he will re-enact the final scene from Highlander where he will be thrown around a warehouse by cartoon dragons and then be a mere mortal that will only ever spend three to four weeks a season playing football and the rest on the physio's bed. There can be only one.....player available at The Emirates.

rodger's gusset
Arsenal interest in Sterling

T

he game changed in our favour when Carrick came on. We were able to play further up the pitch due to having a player who can give and go with the ball and keep possession. Yet barkley made some runs and Townsend scored a good goal but carrick's inclusion and chiellini's withdrawal made the biggest difference to the flow of the game

ricky villa
Hodgson: Barkley was brilliant

N

o, you've not silenced anyone Andros, i'm afraid. We know you can score a great goal, and it's really handy to have your direct running and willingness to shoot on the bench. But until you can do the other things expected of a winger (beat the man, put a decent cross in, stay wide etc) then you can't expect more than a regular cameo. Wonderful goal though, what a hit! No wonder Buffon wanted the shirt.

badwolf
Townsend: I've silenced critics

Footer 365

'Win some medals', blasts Merson

Paul Merson challenged Andros Townsend to "win some medals" before calling him out after the Tottenham winger poked fun at him for questioning his England credentials.

Raheem Sterling will not resume Liverpool contract talks until the summer

Raheem Sterling has confirmed that he will not resume talks over a new contract with Liverpool until the summer.

Tottenham striker Harry Kane wants to play for England U21s at European Championship says Roy Hodgson

Harry Kane wants to "finish the job" and go to the European U21 Championship this summer, according to Roy Hodgson.

Mail Box

Is This The End Of Ex-Players As Managers?

Do massive wages and cushty TV numbers signal the end of the ex-high-profile player turned manager? Plus Liverpool fans don't actually say the 'next year' thing...

A Solution For The Premier League's 39th Game...

One morning Mailboxer solves the 39th game conundrum. Plus England were actually alright, Harry Kane is rubbish again and do Arsenal have the most embarrassing fans?

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company