Burscough Football Club Limited

Official Statement

Further to ongoing comment and speculation as to its current financial position and future; Burscough Football Club Limited (the Club) wishes to announce that it has entered into an unconditional contract to sell its ground, Victoria Park, to a property developer (the Developer) for £300,000 (Three Hundred Thousand Pounds) plus VAT.

On Completion the proceeds of the sale will be wholly utilised towards resolving the Club’s current financial difficulties in order to provide a more stable platform for the future of the Club.

None of the proceeds of the sale are to be taken by Chris Lloyd (majority shareholder) who, having invested substantial sums, is the Club’s largest individual creditor by a considerable margin. Chris will write off his Director’s loans and the Club hopes that other Shareholders and former Directors who have loaned smaller sums to the Club will adopt a similarly generous approach for the benefit of the Club.

The Developer will seek planning permission for a scheme which will include the provision of a new stadium facility for the Club upon completion. In the meantime, the Developer will lease Victoria Park back to the Club at a nominal rent on favourable terms.

As part of the deal Chris Lloyd will transfer his shares in the Club to the Developer for a nominal sum of £1.00 (One Pound). At this point Chris Lloyd will cease to have any formal involvement with the Club.

Victoria Park is subject to a legal charge which currently restricts the use of the land to that of a football ground; this charge is not under the control of the Club. The Club understands that the Developer has secured the release of this charge to enable the proposed development to take place.

Following the long and serious illness of Chris Lloyd this has been a very difficult time for the Club during a period when the worst recession for generations has seriously affected many football clubs, both small and large, with a number going into administration or out of business entirely.

However, all concerned with the Club have worked hard to ensure its future both on and off the field; once the deal is concluded the Club will be in an improved financial position with new facilities in the pipeline. The Club’s long and successful history will be set to continue for many years to come.

The Club would like to thank all those involved in securing this deal and its supporters for their patience, assistance and understanding. In particular, the Club would like to mention the fans that regularly pay to watch the team play, the dedicated but unsung, entirely voluntary, work of Keith Maguire (Club Secretary) and Alan Langton (Kit Man) together with the tremendous performances of Manager, Andy Gray, and the players during a very trying season which has seen the Club maintain its Unibond Premier League status.

Richard Aindow and the Supporters Club have also greatly assisted the Club through this difficult time, providing both financial assistance on the playing side and volunteers to help man the ground on match days.

It is expected the Developer will issue its own statement in due course.