Evening Post - July 21, 2001

Swansea City Football Club could be bought back by former owners Ninth Floor Plc for £1 in three months' time. The company sold the Nationwide League Third Division outfit last week to Swans managing director Mike Lewis for the same princely sum.

Mr Lewis is acting as a custodian as he tries to find new buyers for the club, with loans of £801,098 to be repaid to the company.

But now it has emerged that the terms of the sale to him included a clause giving the Swans back to Ninth floor joint chairman and chief executive Neil McClure and his company in the event of no major investment.

A three-month deadline has been given for someone, or more than one person to sweep through the gates of the Vetch Field with a fat cheque.

A spokesman for Ninth Floor said "In the event that no security is put in place during this time, the Ninth Floor has the option to reacquire it's shareholding for £1." Mr Lewis said today that he was working around the clock to ensure that such a scenario did not occur. Sale prospectuses have gone out to around 50 potential buyers, with Mr Lewis hoping to get something tied up by the start of the new season next month. But he did confirm that a Ninth Floor buy-back was an option. "They have got that option" he said "But we are not anticipating that. We are not looking at that."

Spokesman for supporters' group The Independent Travelling Swans David Morgan was adamant that this should not happen "I think we can't wait to wash out hands of the old regime. Everyone is fed up to the back teeth of empty and broken promises.

We hope that whoever comes in has a love of Swansea City FC and not just a love of money. And if the council see that hopefully it will get behind them.

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