England: Accrington Stanley buy land under stadium
source: BBC.com; author: michał
Accrington owner Andy Holt has bought the land on which the Wham Stadium is built from the local council. Change in ownership comes after long 50 years of leasing the ground.
The League One club previously paid Hyndburn Council a lease to play at the ground. their home since 1968.
"The price was fixed and assessed independently, I asked for no favours from Hyndburn Council and they have been smashing," Holt said. "It cost £400,000 and an interest rate of three per cent until the debt is settled, which will be soon."
He added: "It means if the club does ever hit hard times again, they do not have to pay a lease on the land."
The purchase also means it would be significantly easier to redevelop the ground, should Accrington Stanley proceed with their plan of expansion. In recent years Wham Stadium saw numerous upgrades, including two the covered west and south stands.