SWINDON Town Football Club is now owned by Clem Morfuni and The Axis Group, according to reports.

Following months of court battles between Mr Morfuni and ex-owner Lee Power, Town's minority shareholder is said to have been transferred all remaining shares in the club and will take full control as soon as soon as he has completed the EFL's approval process.

Town's potential new owner is in the UK to complete the deal which would see him take over at the County Ground less than three weeks before the start of the new League Two season.

Should Mr Morfuni pass the league's owners' and directors' test, the EFL will release a statement confirming Mr Morfuni has been declared fit to take full charge of Swindon, while the club should publish a statement regarding its new ownership situation.

The official confirmation of Mr Morfuni as Swindon Town's new owner is expected to come in the next couple of days.

Once Mr Morfuni takes full control, the Australian will have to sort out Town's vast financial problems including defaults in payments to HMRC, non-payment to football creditors, and failure to submit an SCMP calculation to the EFL.

Once all three of these issues are dealt with, Town will be released from their transfer embargo and the club will be able to sign players without restriction.

Town only have nine contracted professionals on the club's books, although over double the number of signings are expected to arrive before Swindon take on Scunthorpe in League Two on Saturday, August 7.

Before that, Town's expected new owner will need to appoint a CEO and a manager, along with a cluster of in-house staff to ensure the proper running of the club.

According to sources close to Mr Morfuni, the Australian is said to have a number of positions lined up already in order to speed up the transition once he takes over.

Swindon Town and former owner Lee Power still face FA charges surrounding the funding of the club when Mr Power first took over, however.

Mr Power, Michael Standing, and First Touch Pro Management were all charged with breaching FA rules on ownership back in April. 

Mr Standing had previously stated he acquired 50 per cent of Swindon Town's holding company when the ex-owner bought the Robins in 2013.

However, under FA regulations, agents are not allowed to own clubs because of potential conflicts of interest.