Leeds United Football Club - Thorp Arch Sale - Lease Back Agreed
Thorp Arch Sale - Lease Back Agreed
Leeds United Football Club can confirm that it has arranged a sale-lease back agreement on its Thorp Arch training facility near Wetherby, aimed at further reducing the club’s debts.
The club has negotiated a 25-year sale-lease back deal with a very good buy-back provision for when the club’s finances improve.
The current board has already reduced the club’s debts from in excess of £100 million down to £40 million, and this deal is expected to knock over £4 million further off that figure.
Shaun Harvey, Chief Operations Officer at Leeds United, says: “In an ideal world it’s not an option we would have taken, but our number one priority is to reduce this club’s debt so it can operate again under normal circumstances. This arrangement will go a long way to helping us do that.
“Instead of paying the mortgage on Thorp Arch, we will be renting it instead, with the players continuing to utilise the excellent training facilities available there."
Thorp Arch Sale - Lease Back Agreed
Leeds United Football Club can confirm that it has arranged a sale-lease back agreement on its Thorp Arch training facility near Wetherby, aimed at further reducing the club’s debts.
The club has negotiated a 25-year sale-lease back deal with a very good buy-back provision for when the club’s finances improve.
The current board has already reduced the club’s debts from in excess of £100 million down to £40 million, and this deal is expected to knock over £4 million further off that figure.
Shaun Harvey, Chief Operations Officer at Leeds United, says: “In an ideal world it’s not an option we would have taken, but our number one priority is to reduce this club’s debt so it can operate again under normal circumstances. This arrangement will go a long way to helping us do that.
“Instead of paying the mortgage on Thorp Arch, we will be renting it instead, with the players continuing to utilise the excellent training facilities available there."