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Former Norwich striker Lee Power takes overn ownership of League One side Swindon

Swindon Town has a new owner in the form of director of football Lee Power, who has set up a company to buy the club .

The takeover by Swindon 20 Reds, a company set up by Power, was approved by the Football League on Tuesday. Power was made a member of the board in April, having taken over part ownership of the club

The Jed McCrory-led consortium which bought a 99% shareholding in the club from Andrew Black in February have now handed control of the club over to Power.

A statement on the Swindon website said  : "The change of ownership signals no fundamental changes in the club, but has been executed post the completion of the audit in line with the intent of the consortium led by Mr Jed McCrory who acquired STFC."  

"Since then he has provided the entire funding to ensure the financial ongoing probity of the club. Mr Power has also furnished the Football League with further proof of funds to underwrite the future liquidity of the club."

After a 10-year playing career with Norwich, Power had spells with Bradford, Peterborough, Dundee, Hibernian and Plymouth before retiring.

Power invested £1.2 million to help lift the League One club's transfer embargo - which was in place before the consortium's arrival in February. 

Swindon are currently trying to force their way into play-off contention, currently one point shy of the top six, in 7th place.

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