Landmark joint venture to buy stadium with fans is over the line…
Swindon Town is delighted to announce the purchase of the County Ground as part of a joint venture which sees the football club and supporters take full ownership of the stadium.
Working closely with Swindon Town Community Mutual Ltd (TrustSTFC), contracts were signed and exchanged early last month between their joint venture company, The County Ground Stadium Custodians Ltd and Swindon Borough Council, with a deposit of £230,000 handed over.
The sale price of £2.3million has now been paid in full with funding for the acquisition coming from the Nigel Eady Trust.
Nigel was a lifelong Swindon Town fan who sadly passed away back in January 2012, leaving a considerable legacy on the proviso the money be used for the long-term benefit of the club and local community.
The landmark move sees both the football club and supporters take full ownership of the County Ground site from the Borough Council as part of an equal fifty-fifty split, which will not only reduce rental costs by half, but allow for significant developments across the stadium using the money saved.
The County Ground has been the home of Swindon Town since 1896 and is a key part of the areas sporting and community heritage.
The purchase also signifies the first time the stadium has changed ownership, with the unique model ensuring it’s future legacy for generations to come.
Swindon Town Chairman, Clem Morfuni, said: “This is a major step forward for the club and lays the foundations for our future success.
“Once again, I’d like to place on record our sincere gratitude to the Nigel Eady trustees who have been so supportive and helped us get the purchase over the line.”
TrustSTFC Chairman, Steve Mytton, added: “This is a fantastic day for both the club and supporters, and we should be excited about the future that lies ahead.
“Development of the stadium and surrounding area can be our catalyst for success, and going forwards, we want all fans to play their part in this joint venture. To do this they should visit www.votingshare.com”
Rob Carter, from the Nigel Eady Trust, commented: “We’re delighted to this deal is finally over the line.
“It’s been a long process, but we can now look forward with great optimism as there are some tremendous opportunities to take Swindon Town forward both on and off the pitch.”
Councillor David Renard, Leader of Swindon Borough Council, said: “There has been so much to work through here, but we finally got the right outcome and it’s been down to great teamwork from all parties involved.
“As council leader, I’ve been working for a long time to give the people of Swindon and fans of the club a stadium they can call their own.
“I’d like to thank the club and supporters’ trust for their collaborative approach. This is a great example of how we can make good things happen when everyone pushes in the same direction.
“I’m very excited to see what the future holds for the County Ground and Swindon Town Football Club both on and off the pitch.”