Press Release from the Foxes Trust – November 6th 2013
COUNCIL APPROVE FOXES TRUST APPLICATION FOR LEICESTER CITY'S STADIUM TO BE LISTED AS AN ASSET OF COMMUNITY VALUE
The Foxes Trust is delighted that Leicester City Council has today agreed the Trust's application for the King Power Stadium – home of Leicester City Football Club – to be listed as an Asset of Community Value (ACV) under the Localism Act (2011).
Assets of Community Value are designed to apply a ‘pause’ to any plans to sell land which is important to local communities, and to give those communities time to compile a bid to buy it themselves.
In its nomination to Leicester City Council, sent on 5 September 2013, the Trust set out a number of reasons why the Stadium should be considered an Asset of Community Value, including:
– Protecting the Stadium’s use as the venue for Leicester City Football Club for current and future generations, and
– Ensuring it continues as a site for delivering social benefit and community value, through the continued hosting of Leicester City matches and the associated community activities Leicester City undertakes.
The listing means that, should the owner of the Stadium wish to sell, they will be required to notify the Council and the Foxes Trust, who will then have six weeks to lodge a non-binding expression of interest. This would trigger a further four and half months (making six months in total) for a rival bid to be prepared. The full moratorium period exists to afford community interest groups sufficient time to prepare and raise money to bid for the property.
Importantly, as a result of this process, fans – and the wider community – also have more transparency about the club: it will not be possible for a sale to be made without prior public announcement.
Foxes Trust is the Supporters Trust for Leicester City Football Club. As a properly constituted, democratically run Trust, it meets the criteria for a community organisation recognised in law as being able to request ACV listings.
Commenting on the successful application, Foxes Trust Chairman, Ian Bason said, “The decision to list the Stadium reduces the fear of any football fan – that the club they have supported all their life is suddenly moved to another location. It happened at Wimbledon many years ago and more recently at Coventry. Such decisions give scant regard to how they affect the lifeblood of a club – its fans.”
“We have no reason to believe that current owners, King Power, have plans to sell the stadium or club, however we believe listing the stadium not only protects the stadium, but also opens up a pathway to dialogue with any new potential owners of the club and stadium, so we can seek assurances on their plans.”
"King Power Stadium now joins a growing list, including Old Trafford, Anfield and Portman Road, where properly constituted, democratically run Trusts have taken an important step to protect the heritage and continuity of their club.”
Kevin Rye, spokesman for Supporters Direct, the governing body for supporters’ trusts, said, “Well done to the Foxes Trust for their work to make sure that the King Power Stadium takes its place alongside the Kassam Stadium at Oxford United, Old Trafford, Anfield & Ewood Park, all stadia successfully listed by supporters' trusts.
"Many more applications are being lodged from across football – and interest is coming from other sports. We know that the Department of Communities and Local Government is especially pleased at the initiative being shown by our members in taking advantage of this legislation.
“This and all other successful listings go to demonstrate the now well established fact that clubs and their stadiums are undeniably community assets and not simply part of an investment portfolio.”
Editorial Notes
Part 5 Chapter 3 of the Localism Act 2011 and the Assets of Community Value (England) Regulations 2012, were approved by resolution of both Houses and came into force in England on 21 September 2012. Since the scheme came into force over 360 Assets of Community Value have been listed, including football grounds such as the Kassam Stadium (Oxford), Liberty Way (Nuneaton Town), Anfield (Liverpool), Old Trafford (Manchester United) and Portman Road (Ipswich Town) – apply to football grounds.
The bid to make King Power Stadium an Asset of Community Value was submitted by Foxes Trust, the Leicester City Supporters Trust. Foxes Trust is affiliated to Supporters Direct, an organization which promotes the value of supporter and community engagement in football.
Foxes Trust was set up ten years ago, and was part of the consortium that took Leicester City Football Club out of administration. The Trust acts as a democratically elected route for fans and has a constructive relationship with the Club.