York City Supporters’ Trust are delighted to announce that we have today granted consent for the football club to enter into a lease to occupy the new LNER Community Stadium. Over the past 18 months, the Trust has worked with our legal team, City of York Council and the club to reach this historic milestone.
Why was the Trust’s consent required?
As part of the 2007 agreements to transfer 75% of the shares in the football club to JM Packaging Ltd, certain measures were introduced protect the future of the club and the interests of fans. This included a clause in the club’s Articles of Association that required the directors to seek the Trust’s consent before entering into a lease on any new stadium.
What has the process involved?
In mid-2019, the Trust’s solicitors clarified the constitutional requirement for consent with both City of York Council and the football club. Subsequently, in September 2019 all parties agreed a process by which consent would be granted. This provided the Trust with the opportunity to review the terms of the lease and matchday agreements with our legal team.
Having received an early draft of the contracts in 2019, we were able to review the final version and grant consent within 24 hours of receiving the request. We are broadly satisfied that the arrangements are in the best interests of the football club and represent a viable commercial model upon which the club can progress.
The sale of Bootham Crescent requires separate consent and so work will continue on the next phase of the Trust’s due diligence process in the coming weeks.
Exciting new chapter
The club’s imminent departure from Bootham Crescent marks a sad time for all York City fans. Not only do we all hold such fond memories of the place, but recent events have meant we have not been able to say goodbye properly. It is not how anyone wanted things to pan out, but we must look to the positives. The new LNER Community Stadium is an exceptional modern facility that we are certain fans will soon fall in love with. The facilities are outstanding and will serve the club, players, guests and fans for many decades to come.
Despite the series of costly delays and challenges, the Trust would like to take this opportunity to thank all those involved in the stadium development project. We particularly wish the directors, staff, players and fans of York City FC and York City Knights all the very best settling into our new home.