Swann wants to buy the ground, and put it in the club's name and not his own (so he says). He then wants to spend £500k+ on it, bringing it up to Grade A (Football League) standard, plus refurbish the Club on the Park, to be used as an extra income stream.
Obviously, this would hit the revenue of the Blues Club.
Swann doesn't want to upgrade the ground without having it as a tangible asset for the club, whereas the Blues Club don't want to sell the ground....