Swindon Town FC today confirmed chairman Jed McCrory has resigned with immediate effect following the club’s takeover by its director of football Lee Power.
In another day of drama at the County Ground, the club issued a statement saying: “Jed McCrory has requested, and the board of Swindon Town reluctantly agreed, to step down as chairman and board member with immediate effect.
“Jed stepped into the club at a time of need and we all agree has rejuvenated the club and the community.
“He has instilled pride back into STFC and the town of Swindon. As close friends and family are aware, Jed has had recurring health issues which have taken their toll over the 14-hour days he has devoted to taking the club from relative obscurity to respectability.”
The Seebeck 87 Ltd consortium, led by Mr McCrory had taken control of the club in February this year.
Meanwhile the takeover by Swinton 20 Reds, a company set up by Mr Power, pictured, was today approved by the Football League.
Mr Power, 41, who joined the board and became part-owner in April, said he wants to develop the club and has ambitions to get it into the Premiership. He invested £1.2m into the club to help lift a transfer embargo placed on it before the Seebeck takeover.
After a 10-year playing career, during which he also had spells with Norwich City, Bradford, Peterborough, Dundee, Hibernian and Plymouth, Mr Power retired and developed a business career.
He has worked as a football agent and launched publishing firm Cre8 UK in 2003 with a business partner. The firm, which became one of the country's largest publishers of matchday programmes, went into liquidation in 2011.
He was part of a consortium that took over Luton Town in 2003 but left within a month. Three years later he became chairman of Cambridge United and appointed himself caretaker manager for 12 games.
Eighteen months later he left to join the board at non-League rivals Rushden & Diamonds.
A statement on the club 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.”