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Better days lie ahead for City says chairman Hampson
9:10am Thursday 5th December 2013 in Sport By Steve Carley - Midlands Sports Journalist of the Year 2013, @stevecarleyWN
The Blue and Whites announced earlier this week that they had agreed to rip up the deal with the property giant, which had tied City to moving to Nunnery Way until 2017.
It has been heralded as “great news” that will give the Skrill North club a future beyond the end of this season and end fears of going out of business.
Under the terms, the club will get back an undisclosed percentage of the £1.266 million they paid St Modwen for land and infrastructure costs.
That will allow them to settle a six-figure capital gains tax bill on the sale of St George’s Lane, which has been triggered by the contract being ended, and have some left over for any future stadium.
Until this week’s developments, City had secured an extension on paying capital gains until 2015 but were unlikely to get another and would not have been able to afford the bill.
It is thought the board were not prepared to start the 2014-15 campaign knowing the club might not have the funds to finish it, resulting in administration at the end of the current season.
But with that no longer an issue, Hampson is looking forward to a brighter future.
He said: “It gives us certainty that we do have a future because without that agreement the club would have gone into certain administration in May next year.
“It’s great news, it gives us a great deal of hope and I think with the spirit now back in the club we can build for a future.”
It has also been revealed that talks between club officials and Worcester City Supporters’ Trust will take place later this month over the fans’ group’s proposed community stadium at Perdiswell.
Hampson said: “We’ve managed to negotiate a way forward which will provide a certain amount of funds which will give us a platform to move to a new facility.
“We need to look at those plans in detail, we’ll be having meetings with them in the next two weeks to discuss those plans and to see what the costs are and their proposals for the structure of a community-led club.
“We will have some money to put into a stadium and it certainly secures the future of the club.”
Manager Carl Heeley said: “Our destiny is in our own hands now and credit to the people who’ve worked to get that done.
“It’s all systems go now, let’s see if we can get the club back into the city because we’ve got to become a force again.”
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