Swindon Town Football Club and Swindon Town Supporters have announced that their 50-50 partnership and plan to purchase the County Ground has reached a major milestone after they formed the joint venture company which will own the football stadium when contracts are exchanged with Swindon Borough Council in the next few weeks.
Following 10 months’ of legal discussion around the sale, terms have now been agreed by all three parties for a 250-year lease which will allow the football club to redevelop the stadium and modernise its facilities.
The exchange is subject to purchase costs being met and at least 2,300 supporters purchasing a share in the venture with a minimum price of £19.69.
Swindon Town Supporters Trust will announce details of the share offer at its AGM on Friday, 20 March, in the Legends Lounge at the County Ground. Trust STFC.
Commenting on the deal, Councillor David Renard, Leader of Swindon Borough Council, said:
“The agreement of terms and the formation of the joint venture company is tremendous news because the football club is such an important part of the local community. The partnership between the club and the supporters is the start of a new era, which will lay the foundations for success off the pitch as well as on it.
“Creating the joint venture was incredibly complex but our officers, the club and the supporters have worked tirelessly over the last 10 months to get to this point. We have placed the ball on the spot, now all we need to do is put it into the back of the net like Town have been doing all season.”
