Hilton completes Scunthorpe takeover from Swann
Scunthorpe United were relegated from the EFL after 72 years in 2021-22
David Hilton has become the new owner and chairman of Scunthorpe United.
The takeover brings Peter Swann's 10-year period as owner to an end.
"I'm pleased to say the takeover has now been completed, and the deal includes the football club, stadium and surrounding land," the former Ilkeston owner told the club website.
"The first job I've got to do over the next 48 hours is settle the winding up petition with HMRC, which will help us get out of the transfer embargo we're under, so we can bring some bodies in and strengthen the squad.
"Any remaining debts will be eradicated in due course and we'll be looking to put the football club on a sustainable model as quickly as possible, while remaining competitive in whichever division we're in.
"I can also add, if there is to be any development in and around Glanford Park, it will be purely for the benefit of the football club and to help it move forward, not for personal gain."
Swann had been looking to sell the club for some time and anger at his ownership saw some fans protest on the pitch during the recent home defeat by Woking.
The Iron were relegated from League Two last season after 72 years in the Football League and are now eight points from safety in the National League and facing the very real possibility of playing regional football next season.
They travel to mid-table FC Halifax Town later on Wednesday.
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