£2m ground deal is Hatters lifeline
STOCKPORT council has finally completed the deal to purchase Edgeley Park and ‘secure the future’ of Stockport County.
The council executive board met on June 24 to formally agree the deal, and after the due diligence which has been on-going since then was concluded on Friday, the purchase has been finalised - at no cost to taxpayers.
Glaisyer’s Solicitors, representing the sellers Cheshire Sport, confirmed that the deal was completed for £2m – a fee which the council say is ‘cost neutral, and will not cost taxpayers a penny.’
Coun Iain Roberts, who spoke in favour of the purchase back in June, said the deal is a ‘genuinely commercial arrangement, which secures the future of Stockport County.’
“The council, will not, at any stage, be providing financial support to the football club,” he added.
“We have bought the ground in order to provide stability for the team to remain in Stockport.
“We want to see the club progress both on and off the field and hope that this will help to secure its longer term future.”
County senior advisor Steve Bellis, who returned to the club last year following a previous spell as chief executive, spoke of a ‘momentous day’ for everyone connected with the club.
“The security and stability that this gives the club just ahead of the start of a new season cannot be underestimated,” he said.
“Edgeley Park is a great asset that will earn the council and therefore the people of Stockport a commercial return.
“We look forward to continuing to put this wonderful town on the map.”
Talk of a deal being reached came to the fore in May, when the Express revealed that the historic ground was under threat of demolition when owners Cheshire Sport received an offer from developers.
The Hatters, kicking off their fifth season in non- league football on Saturday, will now work with the council in a “landlord/ tenant relationship” as the authority lease the ground back to the National League North side.
County lost ownership of Edgeley Park back in 2003 when Brian Kennedy, owner of Sale Sharks and head of Cheshire Sport, bought both club and sta- dium from previous chairman Brendan Ellwood.
After a tough two years, Kennedy sold the club to the Supporters Trust but retained the ground in 2005.
But a turbulent 10 years followed, with County sinking from the League One play-off positions in 2008 to part-time regional football in 2013.
One major financial issue was the agreed rent between Cheshire Sport and the football club which was regularly deferred by Kennedy – but the council stepped in last month, and County bosses say that the goal of owning the ground once again remains a priority.
County new season preview: Pages 66 & 67