Swindon Town Football Club can confirm it is now seeking a new main sponsor.

After negotiations with the club's 2007/08 main sponsors, The Kingswood Group, the club have now ended the deal as Town Chief Executive, Nick Watkins, explained.

"I have held discussions with the Kingswood Group," he said. "The hand of good financial fortune is not resting comfortably on their shoulder presently and I fear administration may loom large for them.

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"Consequently they have been relieved of their on-going sponsorship commitments and the club is now actively engaged in dialogue with new sponsors for 2008/09 and beyond.

Watkins added: "It is not just about a name on the shirts. We need to find someone who will work with us in terms of the club's ethics, and in terms of the community."