Turf Moor sold

Last updated : 09 April 2006 By Tony Scholes

Clarets' Chairman Barry Kilby, who is the main shareholder of the new owners, told Clarets Mad on the day Steve Cotterill signed his new contract that he expected the deal to go through very soon, even as soon as that very afternoon.

If not that day it was very soon afterwards and Kilby confirmed yesterday that the deal had gone through and explained the reasons for the delay had been two fold, the changes to stamp duty and the fact that the club did consider not selling after the sales of Robbie Blake and Richard Chaplow last year.

It's been a long drawn out saga with news first becoming public in November 2004 when the notices went out to shareholders regarding the club's Annual General Meeting. A motion to allow the sale was included in the agenda.

At that meeting Kilby explained that he would hold 51% of Longside Properties, fellow club director John Sullivan 25% and Magenta Holdings 24%. It was carried, with a big majority, but nothing happened and a year later the shareholders were told that it was still going through but that Sullivan's share had now increased to 49% alongside Kilby's 51%.

It was imminent they were told, and that was repeated by the Chief Executive at a later date, but still nothing happened. Now it finally has, and the club are tenants at Turf Moor with the benefit of a 99 year lease. It leaves the club free of external debt but with no major asset.

I didn't vote for the sale at the AGM in 2004, I just couldn't bring myself to approve the sale of Turf Moor, and to be honest I still don't like the idea of us not owning it.