Sunday, July 21, 2024

Steps forward and back for sale of City Ground land to Nottingham Forest

Nottingham City Council has revealed that it has agreed, in principle, terms for the sale of the land that the City Ground sits on to Nottingham Forest. This allows the club to push ahead with its plans to expand the stadium, while securing a significant capital receipt for the council.

Nottingham Forest, however, has issued a less optimistic clarification, noting that any decision to purchase the freehold will be entirely conditional on the football club first being granted the relevant permissions that will allow it to realise its plans for a larger stadium capacity, world-class hospitality spaces and associated real estate development.

Councillor Neghat Khan, Leader of Nottingham City Council, said: “I’m pleased to announce that we have agreed, in principle, terms for the sale of the land that the City Ground sits on to Nottingham Forest. This allows the club to press ahead with its ambitious plans to expand the stadium, while securing a significant capital receipt for the council.

“While it has been an uncertain time for supporters, property transactions like this can be complex and protracted. We’re legally bound to seek best value for taxpayers and we feel that the deal now on the table satisfies that requirement, and also works for Forest.

“The sale is subject to formal approval by Executive Board next week and the legal contract being finalised, but I feel this is the right decision for Nottingham and entrusts the future of this important asset to the club.

“The council is immensely proud of the club’s recent achievements and its proud heritage. With the City Ground secured for many years to come, we wish Nottingham Forest continued success as they look to further establish themselves as a Premier League side.”

Nottingham Forest said: “For absolute clarity, we continue to work on the terms for a conditional deal for the purchase of the freehold.

“Any decision to purchase the freehold will be entirely conditional on Nottingham Forest first being granted the relevant permissions that will allow us to realise our hugely ambitious plans for a significantly larger stadium capacity, world-class hospitality spaces and associated substantial real estate development in the vicinity of the ground.

“Our discussions remain confidential and the Club will update fans when meaningful progress has been achieved.”

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