Worcester City freed from St Modwen contract

Worcester News: Worcester City freed from St Modwen contract Worcester City freed from St Modwen contract

WORCESTER City have officially been released from their contract with St Modwen to build a new stadium at Nunnery Way.

The two parties have been in negotiation over scrapping the deal, which had committed the Skrill North club to move to the M5 corridor site until 2017.

Although the terms of the agreement remain confidential, City will receive enough of the £1.266million they paid St Modwen in infrastructure costs to pay the captial gains tax bill on St George’s Lane, which could be as much as £400,000.

They will also have some money left over to put towards a new stadium, such as the supporters’ trust’s plans for Perdiswell.

A joint statement from St Modwen regional director John Dodds and Worcester City chairman Anthony Hampson said: “Following on-going and productive discussions both parties can now report that an agreement has been reached over the detailed terms of the agreement and a deed of release has now been signed by both parties.

“The effect of this agreement is to release Worcester City Football Club from the Nunnery Way contract.

"As previously reported it will allow the football club to meet its capital gains tax liability and also provide some funds for investment into a new stadium for the football club.

“The board of directors at the club believe that this agreement will go a long way towards securing the club's future and remain grateful to St Modwen for accommodating the club’s request.”

Comments (4)

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8:27pm Mon 2 Dec 13

copierman says...

It was always pie in the sky
It was always pie in the sky copierman

8:53am Tue 3 Dec 13

Worcester Lad says...

Great news, now put the past behind and look to a bright future
Great news, now put the past behind and look to a bright future Worcester Lad

9:58am Tue 3 Dec 13

Andrew Guy says...

It was never about the football stadium.
A stadium was only ever an excuse for St Modwen to build hotels, pubs, offices, car showrooms etc.
Now St Modwen will be lobbying the council hard to let them build those things (or similar) on that site anyway. I would not be surprised if releasing WCFC from this contract was preceded by some sort of discussion between St Modwen and the council...
Nevertheless, well done to the football club for finally ditching its very ill-advised relationships with developers.
It was never about the football stadium. A stadium was only ever an excuse for St Modwen to build hotels, pubs, offices, car showrooms etc. Now St Modwen will be lobbying the council hard to let them build those things (or similar) on that site anyway. I would not be surprised if releasing WCFC from this contract was preceded by some sort of discussion between St Modwen and the council... Nevertheless, well done to the football club for finally ditching its very ill-advised relationships with developers. Andrew Guy

12:31pm Tue 3 Dec 13

Nortynorse says...

For all those of you from the fair City, St Modwen would not have realeased WCFC for free, you bet your **** there's some sting in the tail for council for this "get out"

St Modwen are just "property parasites" who would have us think they were doing the city a favour, (It's not the 1st of April you know) take a look around Shrub Hill and Blackpole, no one else can get a look in.

That said, lets all get behind a new development for the club be it Perdiswell or wherever and put this unsavoury episode behind us.
For all those of you from the fair City, St Modwen would not have realeased WCFC for free, you bet your **** there's some sting in the tail for council for this "get out" St Modwen are just "property parasites" who would have us think they were doing the city a favour, (It's not the 1st of April you know) take a look around Shrub Hill and Blackpole, no one else can get a look in. That said, lets all get behind a new development for the club be it Perdiswell or wherever and put this unsavoury episode behind us. Nortynorse

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