Clem Morfuni: Swindon owner fined for failing to declare transfer of shares

Swindon Town are currently 17th in League Two

Swindon Town owner Clem Morfuni has been fined £10,000 by an independent disciplinary commission for failing to declare a transfer of club shares.

Morfuni was charged in December for failing to disclose to the club's management the transfer of a 17.1% shareholding to Mrs Hollie Kiely in September 2022.

This failed to adhere to English Football League regulations.

"The club and Mr Morfuni admitted the charges," the EFL said.

"The latter (took) full responsibility for the breach."

Clubs are required to inform the league of details of any 'significant interest' shareholder with more than 10% of voting rights.

Swindon also failed to "update the official club website for public record".

While it was acknowledged that Swindon suffered an "inadvertent breach" after Morfuni's administration error, the League Two club was still issued with a reprimand and a warning as to its future conduct.

Swindon said on its website that it would be making no further comment at this time.

Morfuni, an Australian businessman, became majority shareholder in July 2021.