RAMSBURY-based businessman Andrew Fitton is believed to be heading up the new takeover of Swindon Town.

As confirmed by the club this week the consortium are those who were interested six months ago before BEST Holdings launched their doomed bid.

The Robins, who travel to Port Vale in League One on Saturday, are in desperate need of new investment and are losing £100,000 a month.

The players threatened strike action earlier this month after a delay in receiving their September wages, which were eventually paid for by club owner Sir Seton Wills, who also looks set to cover the wages this month.

Fitton is believed to be a friend of current Town owner Sir Seton, who also lives in Ramsbury.

Property developer Fitton is chairman of Hellenic League Premier Division side Hungerford Town and, with due diligence under way, could take over at the County Ground by November 16 at the latest.

Any takeover would ease the financial pressure on manager Paul Sturrock, who this week revealed he will have to get rid of up to eight players to balance the books.

"I have been left in a position where this football club at this minute has no money. So due to the circumstances that have arose lately we have gone dramatically over budget," said Sturrock.

He watched a 2-0 friendly win over Cardiff City on Tuesday designed to showcase his players to scouts.

"Before I was even asked by the owners I realised I have to do something so I have taken steps to try and find homes for some.

I also reiterated I would do nothing detrimental to this squad and the situation we find ourselves in."

BEST Holdings trio Ibon Arrieta, Mauro Almeida and Franklin Anzite all look set to leave while Michael Pook and Kaid Mohamed could be sent out on loan.

Hull City loanee Sam Collins is expected to return to the KC Stadium when his loan deal ends after Saturday's game at Vale Park.

Meanwhile, board member Mike Bowden has resigned from his position, the club confirmed yesterday.

Bowden was brought in with special responsibilities for stadium development in December 2006.