Walsall FC Acquires Poundland Bescot Stadium Walsall FC Acquires Poundland Bescot Stadium
Posted by: Bescot Banter

Walsall FC Acquires Poundland Bescot Stadium

Walsall FC has acquired the freehold of Poundland Bescot Stadium.
Bescot Banter - Walsall FC News
The Club has issued a statement confirming that as of today, Friday, 16th December 2022, it has executed its option to acquire the club's home ground, Poundland Bescot Stadium.

As such, The Walsall Football Club Ltd. is now the owner of the stadium, the Saddlers Club, and adjoining land, meaning rental payments, which have been paid by the club for over thirty years, will discontinue immediately.

The acquisition of the stadium was a key component of the transaction in late May 2022, in which Trivela Group acquired a majority stake in the football club from then-chairman Leigh Pomlett. 

At that time, it was agreed that Trivela Group would provide additional debt and equity financing to facilitate the purchase of the stadium on or before the end of May 2024, an agreement which it has met well ahead of schedule.

Walsall Co-Chairman Benjamin Boycott, who sits alongside Pomlett on the club's Board of Directors, welcomed news of the deal, speaking via the club's official website, he said; "Today is a landmark day in the life of the football club.

"As of today, the club owns its own stadium after decades of tenancy. 
The club’s home for the future in the town is secure.

"The club owes a tremendous debt of gratitude today to Mr. Pomlett, who has now delivered on his promise from 2019 to facilitate a situation where the club would be reunited with the freehold.

"More than anything, the club owes a debt of gratitude today to its supporters, who have ultimately made this moment possible.

"They have stood behind this club throughout high points and low points on the pitch, multiple ownership changes, a global pandemic, and, of course, uncertainty around the stadium. Today, they can finally say that their club has a permanent home."

This transaction was executed pursuant to an option agreement negotiated between Leigh Pomlett and previous owner Jeff Bonser at the time of Pomlett’s acquisition of the club back in 2019.

It was executed with a conservative mix of debt and equity financing, with the financing provided by First Southern National Bank in the United States.

Additional shares have been issued to Trivela Group in exchange for a substantial injection of equity, necessary for the purchase.

Simultaneous to this transaction, Trivela has also acquired additional shares from Mr. Pomlett, and now holds approximately 90% of the total share capital of the football club.

Leigh Pomlett added; "I am very excited to see this come to fruition. The relationship that the club and community has built with Ben and Trivela has been extremely positive, and today is a momentous occasion in our history.

"As a lifelong supporter of the club, I can honestly say that today is one of the most important occasions in recent memory."

Boycott continued; "I’d encourage every Walsall supporter to join us at our upcoming matches to celebrate this occasion. I am very proud of the progress that Michael and the team are making on the pitch – they are putting in tremendous effort and have been rewarded with a string of good results. 

"Today is a new chapter in the long and proud history of Walsall FC and an exciting day for all of us, and as I have said before, I firmly believe that our best days as a football club and as a town lie ahead of us."
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