Between 4th and 11th June 2025 and in accordance with our rules and regulations, Trust STFC undertook a membership vote in relation to the redevelopment of the Nigel Eady County Ground. The Club requested consent for the introduction of executive boxes and hospitality facilities in the Don Rogers stand.
As previously advised, for votes of this nature to pass, at least 50% of total eligible members shall cast a vote, of which at least 75% of the votes cast are in favour of granting shareholder consent.
In total, 1,263 members were eligible to participate in the vote, the results of which have now been reviewed and verified.
955 members cast a vote representing 76% of eligible members. This means the threshold for participation was comfortably met.
For shareholder consent to be granted, 717 votes in favour were required. Of the votes received, 478 were in favour, therefore the resolution did not succeed.
As a result, consent to the Club’s request has been declined.
The Joint Venture board meeting planned for this morning was postponed by the Club earlier in the week. As a result, the JV directors were advised of the results by email earlier today.
The outcome is not dissimilar to the consultation which both the Trust and the Club undertook in April 2025.
When voting, we provided members the opportunity in a free text field to share their reasons for why they voted the way that they had. Analysis of this feedback is summarised below and highlights a number of significant, and not unreasonable concerns, which has prevented shareholder consent at this time:
- Trust in the owner and leadership of the Club – concerns over not caring what supporters think (despite significant feedback, no changes were made to the submitted plans and concepts), poor communication, history of misleading statements, sole focus on hospitality suggests that the leadership is out of touch with the regular supporter who feel disconnected or ignored, doubting whether the project serves their interests;
- Funding – it took multiple attempts for the Club to clarify where the funding is coming from, concerns over increasing debt to the owner, concerns over funding reliability and what happens if it dries up, history of late payments to suppliers, current funding issues evidenced by the recent County Court Judgment;
- Business Plan – demonstrates how risky an investment this is if it requires two years in the Championship to make it pay, unclear why unrelated revenues were used within the payback (i.e. sponsorship income), unclear how hospitality revenue was calculated, how the project outlay links to the payback and future sustainability of the Club;
- Design and Deliverability – concerns over the ability to deliver and the contractual mechanisms to “keep the Club honest”, suggestions to derisk the project by phasing the design and aligning it with progress on the pitch (i.e. hospitality floor now, executive boxes later), commitment to improve other supporter facilities in other stands, many references to protecting against the Northampton Town situation;
- Masterplan – no overall masterplan was provided – how does this project fit into the bigger plans and timescales for the stadium, concern over residential development and how this was communicated, many requests to address the basics before undertaking major projects, concerns that redevelopment of the stadium will end after a single project.
The Trust board recognises that the Nigel Eady County Ground is in desperate need of redevelopment following decades of neglect. Whilst the result of the vote was not unsurprising given the consultation feedback, it is nonetheless disappointing that improvements cannot proceed at this time.
With this in mind, the Trust board are committed to working with the Club to find solutions to the issues highlighted above. Whilst some can only be addressed by the Club, others can be addressed by contractual commitments through, and in parallel with, the Joint Venture Agreement. As we have said repeatedly, restoring good governance and meaningful dialogue will lead to greater trust in the ownership of the club.
If solutions can be found which address the concerns highlighted, members shall be approached for a further vote.
Trust representatives to the Joint Venture will discuss next steps and potential solutions with the Club and Eady Trustees at forthcoming board meetings and we will keep members and supporters updated with progress.